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Gold has actually traditionally been a good inflation hedge, climbing as consumer rates climb. The concern now, is that inflation is likely to continue to be weak following year, claimed George Milling-Stanley, primary gold strategist at State Road Global Advisors.
" I'm not seeing rising cost of living till well into 2021," Milling-Stanley claimed. "Gold does not need rising cost of living to go higher. If you recall at the start of this century, just to the year 2001, gold went to $250 an ounce. Today, it's over $1,800 an ounce, and we have not had a lick of inflation in that 20-year period."
0:00 – Macroeconomic overview
3:11 – Why gold has been dropping
5:24 – USD outlook
7:13 – Bear situation for gold
9:20 – Gold's function
13:10 – "Kitchen area is on fire"
14:05 – Gold-backed ETF inflows
20:32 – Gold rate projection
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'Gold doesn't need inflation to go higher' - George Milling-Stanley
Gold has historically been a good inflation hedge, rising as consumer prices climb. The issue now, is that inflation is likely to remain weak next year, said George Milling-Stanley, chief gold strategist at State Street Global Advisors.
"I'm not seeing inflation until well into 2021," Milling-Stanley said. "Gold doesn't need inflation to go higher. If you look back at the beginning of this century, just to the year 2001, gold was at $250 an ounce. Today, it's over $1,800 an ounce, and we have not had a lick of inflation in that 20-year period."
0:00 - Macroeconomic outlook
3:11 - Why gold has been falling
5:24 - USD outlook
7:13 - Bear case for gold
9:20 - Gold's purpose
13:10 - "Kitchen is on fire"
14:05 - Gold-backed ETF inflows
20:32 - Gold price forecast
__________________________________________________________________
Kitco News is the world’s #1 source of metals market information. Our videos feature interviews with prominent industry figures to bring you market-affecting insights, with the goal of helping people make informed investment decisions.
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