U.S. Treasury’s gold revaluation could restart the ‘debasement trade’ as yield pressures fade – UBP’s Kinsella

(Kitco News) – Gold has likely seen the worst of its Treasury-yield-driven losses, and once the Iran situation improves and Fed rate hike expectations ease, the Treasury department itself could provide a new tailwind for bullion prices between now and year-end, according to Peter Kinsella, Head of Investment Services for the UK at Swiss private bank UBP.Kinsella noted that gold has traded lower since the Federal Reserve’s 25-basis-point rate hike in September.