Investors this week also rushed to U.S. government bonds, sending prices up and yields south, writes Tom Petruno for The Los Angeles Times.
Seven-year notes on Thursday saw solid demand. The government sold $29 billion worth of the notes at a yield of 2.9%. iShares Barclays 3-7 Year Treasury Bond Fund (NYSEArca: IEI) now has a yield of 2.1%.
For full disclosure, Tom Lydon’s clients own GLD.
Max Chen contributed to this article.