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The record low 30-year long bond yield intraday was on August 28, 2019 at 1.907%.

On a closing basis, the record low was 1.94%.

Those records are poised to fall due to a slowdown in shipping coupled with the coronavirus.

As noted earlier today, there is Little Chance of Coronavirus Containment in South Korea.

And in China, Half the Population of China, 760 Million, Now Locked Down

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From an economic standpoint, January saw the Largest Shipping Decline Since 2009 and That's Before Coronavirus impact hit.

There is no coronavirus containment. Bond yields will fall.

I expect a surprise rate cut at some point. This combination adds fuel for a further rise in the prices of gold.

In case you missed it, Gold at Record High in Euros. A record high in US dollars is also coming up.

Mike "Mish" Shedlock