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Posted November 5, 2026 at 11:45 am
Gold broke below $4,000 and is down about 30% from its late January highs. Real yields have fallen sharply as the 10-Year Treasury dropped from 5.35% in early October to below 4.9%, yet the metal still can’t rally. Jim Iuorio of JI Financial Strategies explains why gold may be trading like a risk asset rather than a safe haven.
The next test comes with the November 6 employment report. A weak jobs number plus continued Nasdaq-100 volatility could push the Federal Reserve toward a less hawkish stance and closer to neutral. For retail traders, the question is whether falling real yields will finally outweigh the market’s appetite for risk.
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Originally Posted November 3, 2026
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