MONEY GLOBE XMacro for Professionals · Lesson 2
Inflation, real rates and gold
The rate that really matters
Professional - Gold & Platinum
In this lesson
Calculate real interest rates and understand how they influence gold, growth stocks and risk appetite.
Key takeaways
- Real interest rate = nominal rate − (expected) inflation; inflation-linked bonds show it directly.
- Higher real yields raise the opportunity cost of gold and shrink the present value of distant profits.
- Falling real yields have tended to support gold and growth stocks.
- Relationships shift — e.g. strong central-bank gold buying in 2023–24.
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Next lesson: Central-bank liquidity and risk assets
Educational information only - not financial advice.