The Parable of Goldfinger
By Alexander Zemek-Parkinson - 28 April 2025
Is there a relationship between the price of gold and bonds? Most vigilantes would agree that there is some correlation based on inflation, with bond yields and the price of gold rising when inflation is on the way up, and vice versa. Most “goldbugs” would probably agree with this assessment. They would say that the metal was a repository of long-term value and was an effective medium for protecting purchasing power. The late Julian Baring was the man with the golden fund1. He presented the…