Gold (GC=F) continued to rise on Monday after breaking above $5,000 an ounce earlier than Wall Street expected. Futures hit the major milestone on Sunday while silver (SI=F) also soared at one point beyond $115, raising questions about the stunning speed of the rally in precious metals. Gold's surge has become a hallmark of the “debasement trade,” with investors buying assets to protect against the erosion of purchasing power amid soaring government debt worldwide. Silver has moved even more aggressive ...

Senior Fellow at the Brookings Institution Robin Brooks warns that while markets focus on falling short-term rates, a “thoroughly alarming” spike in long-term government bond yields is flashing the early warning signs of a potential global debt crisis.Masking The DangerAccording to Brooks’ Substack post, the global economy may be headed into a sovereign debt crisis. He explains that while short-term interest rates have dropped recently due to fears of a U.S. recession, this cyclical decline is masking a str ...