Is the U.S. Treasury also losing its safety net? Gold and silver as alternatives amid the government debt crisis

Market analyst Michael Oliver said in a November 8 interview that the recent rebound in U.S. long-term Treasuries is unlikely to hold, warning that once investors conclude government bonds are no longer a viable alternative, capital will flow into gold and monetary precious metals. He argued that the key driver of precious-metals prices is not war but the erosion of purchasing power from expanding money supply, and that investors should focus on the real purchasing power of the dollar, euro and yen rather than their relative exchange rates. The view matters because it challenges the long-standing role of U.S. long bonds as a safe-haven asset amid a government debt crisis. What to watch next is whether Treasury yields resume rising and whether gold and silver attract sustained inflows as the alternative store of value.