Yield Curve Control (YCC) is nothing new; Central Banks in Japan and Australia have already implemented YCC. U.S. Federal Reserve Governors Richard Clarida and Lael Brainard and former Fed chairs Ben Bernanke and Janet Yellen have said the Fed should consider adopting YCC.
Quantitative Easing (QE) and YCC differ in a couple of significant ways. QE deals in quantities of bonds; YCC focuses on the prices of bonds. QE focuses on short-term interest rates; YCC can focus anywhere along the yield curve.
For example, if the Fed decided to peg yields on 10-year Treasury Bonds around zero percent, the Fed would make a standing offer to purchase any outstanding 10-year bonds at a price consistent with hitting the target yield. On days when private investors for any reason are not willing to pay that price, the Fed would step in and purchase more bonds to keep yields inside the target price range.
The purpose of Yield Curve Control is to drive interest rates lower or keep interest rates low. Interest rates have a negative correlation to the price of gold. Therefore, when interest rates go down, gold prices go up.