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Gold: Another Week, Another Struggle at $1,900

CommoditiesJun 11, 2021 03:45PM ET

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AIM Investor Journal
AIM Investor Journal Jun 11, 2021 4:39PM ET
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"As the week rolled to a close, an all-too familiar pattern reinforced itself on those who still cared to call gold a hedge against inflation — which it clearly was not, given its inability to respond to America’s worst concerns about price pressures in more than a decade." I think you are wrong to suggest this is gold diverging. Gold is up $200 from recent lows this year which can be attributed to inflation fears, gold being a hedge against dollar weakness as you know. See today's articles on investing for other ideas why the USD has rallied and how inflation fears appear to be subsiding, at least according to reports this week. US growth appears stronger than in the EU. The UK reopening in two weeks may be delayed and that is helping dollar bulls also. Two articles: Dollar looks stronger as euro and sterling dip By Reuters ( Stocks hover near record highs as bond yields slide By Reuters (
Barani Krishnan
Barani Krishnan Jun 11, 2021 4:39PM ET
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AIM, it's well and fine to extrapolate gold's $200 from this year's lows as a response to inflation. But the fact of the matter is, inflation concerns were already flying high by January, and if goal had properly reflected that, It should have never gotten to $1700, and worse $1600 levels, in Q1. Pardon me, but I'm so done with this gold-is-an-inflation hedge nonsense for now. Let's get a good move up before we start talking about that again. Have a good one, sir.
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