The U.S. Dollar Is No Longer a Safe Haven

Gold broke the $2,700 mark for the first time on Friday, Oct. 18, while at the same time investors sold U.S. Treasuries, showing that the dollar is no longer a safe haven. The out of control U.S. debt has resulted in yields for 10-year Treasuries increasing. Despite that, investors have sold Treasuries and bought gold, for fear of inflation. While its underlying intentions are not clear, the Committee for a Responsible Federal Budget (CRFB) has said that Kamala Harris’s program would increase debt by $3.5 trillion, while Donald Trump’s program would increase it by $7.5 trillion.