$IRX Weekly

Just to be sure that rates are in decline at the short end of the yield curve, you would have to check on the $IRX.

On the chart, rates are indicated at 10X their value on stockcharts.com, for whatever reason. They closed @0.03% on the week. As we have seen in German and Swiss central bank rates, as well as periodically for Eurozone yields, rates can go negative.

Rates are so low lately because money has come out of the long end of the yield curve and into treasury bills.

What this means for the gold market, should rates at the short end of the yield curve dip into negative nominal rates, is that the money flow will reverse out of treasuries and into the bullion markets.

This would mark a structural change in money.

http://scharts.co/11ubvNd

-F6