Thoughtful Money with Adam Taggart · Sunday, November 1, 2026
Jeff Clark points out that despite recent macroeconomic pressures including a 24-year high 10-year yield and a strong US dollar, gold has continued to rise alongside yields since 2022, central banks are accelerating net purchases, and global gold ETF inflows reached a record high in Q3.
“Number one, gold has been rising with yield since 2022. Look at this chart. You can see through 2021 gold fell. But since then, since the end of 2021, the gold price on an annual basis has been rising along with yields.”
“Q3 data is just out, like a week ago, and you can see from the inset that last quarter was the largest quarterly inflow into global ETS, not just US or Canada. On record, it's the highest ever.”