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AlhambraInvestments/Jeffrey P. Snider/8-30-2019
“In other words, even on the inflation side we have to qualify gold’s value as a hedge. It doesn’t protect against inflation shifting from one moderate level to another; say, from around 1% to 2%. Or even 3% and 4%. As is clear on the chart above, gold skyrocketed when inflation was pitching double digits – meaning an economic situation that had gotten way out of hand despite the ‘best” efforts of officials.’”
USAGOLD note: Snider digs deeply to find gold’s real role in the portfolio – an article for those looking to more closely identify the longer-term psychological drivers to gold demand.
Image courtesy of VisualCapitalist
Source: USA gold
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