Commodities: Gold defies rising bond yields, but why?

Today we talk about rising gold prices despite rising yields in a move that smells of investors seeking hedging for a financial system in which something could soon break due to rising bond yields. We also talk about the oil market and how it is perceiving supply disruptions amid the escalating war between Hamas and Israel. Finally, we touch on the strong gains in soft commodities such as orange juice, cocoa touching a 44-year high, and sugar touching a 12-year high, with Peter Garnry and Ole S Hansen. Read daily in-depth market updates from the Saxo Market Call and SaxoStrats Market Strategy Team here. Click here to open an account with Saxo