POG, page-3

IMO, POG just needs a little more time.

People are chasing the increasing nominal yields in longer term treasuries.

However, there is no way the FED allows the interest rates to rise above 1.5ish - 2ish %, because if it does, the debt based system is in serious trouble. They will likely implement yield curve control or negative interest rates (or make people believe they will...) before they allow that to happen.

Now, whilst this is occurring, most reputable macro thinkers are saying we are likely undergoing a secular shift to substantial inflation.

POG should see massive tailwinds once people start to realize this nominal yields in treasuries are actually yielding negative rates in real terms.

As they say, the 'smart money' is moving into gold/commodities/bitcoin now before the masses come.