U.S. Bond Yields Will Never Go Higher

The following chart shows that the Fed will buy more treasuries than it will issue. That means bond yields will never go up. The Fed will be able to push bond yields down. This is of course very bullish gold as gold likes low bond yields.

Moreover, the Fed balance sheet will continue to grow this year, possibly to $10 trillion by the end of the year and eventually to $12 trillion by the end of 2021.