According to The Kobeissi Letter, gold has significantly outperformed bond returns over the past 4-5 years, with gold up 114% since March 2020, while the bond-tracking ETF $TLT has decreased by 45%. This highlights a major shift in market sentiment, making it one of gold's most bullish developments recently. Factors contributing to this trend include investor preference for tangible assets amidst economic uncertainty and inflation concerns. As bond yields remained low, investors turned to gold as a hedge, driving its price higher.

According to The Kobeissi Letter, gold prices have surged by 114% since March 2020, significantly outperforming the bond market, as indicated by the popular bond-tracking ETF, $TLT, which has declined by 45%. This remarkable shift in investment sentiment towards gold is attributed to several factors, including economic instability and inflation concerns, which have increased gold's appeal as a safe-haven asset. Traders are advised to consider the continued volatility in the bond market and the potential for further gains in gold as part of their diversified investment strategies.