Yes, the real rate of interest matters to gold. But not as much as its direction… Wall Street and the City are coming to decide that gold is a sell. Because interest rates, they reason, are set to rise sooner than they used to imagine. This professional money is only half-wrong. Central banks aren’t about to hike the returns on cash savings, which have been a wasting asset pretty much non-stop since 2007. But when [...] Gold and the Direction of Travel appeared in the Daily Reckoning . Subscribe to The Daily Reckoning by visiting signup for an Agora Financial newsletter .