Gold has actually been stronger than one would expect in the face of this week's drop in the treasuries, I blame smugglers.
Here's the action at 5-minute intervals:
Recently:
Sept. 4
Moment of Truth for Gold Futures
Sept. 3
Okay Class: Gold and the 10-year Yield are Both Up, Which One Wins?
And older:
Gold and Real Rates: "What Determines the Return on Gold?"
As the 10-Year Yield Sets Another Cycle High A Bit of Nervousness on Gold
The Mid-April Reversal of the Treasury-yield/Gold-price Correlation
Inflation and Real Rates or What's a Fed Chairman to Do?
Real Interest Rates and Gold
So Why is Gold Down? Look To the Real Interest Rate
Barron's on Gold and Real Interest Rates