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Inflation worries are escalating on loosened monetary plans and also unmatched stimulation, with June CPI data increasing at the fastest level given that 2008. Nonetheless, this has actually not been mirrored in the rate of gold with the precious metal not striking the $1,900 an ounce degree because January.
Mark Skousen, a prize-winning economist, alerts that if gold were to breach the $2,000 an ounce level that would certainly suggest that inflation is an extremely severe issue.
" Gold tends to be a leading indication of inflation, as well as gold is going up, however it hasn't damaged over the $1,900 degree. However if it does break that degree, as well as goes from $2,000 to $2,100, that recommends a really severe rising cost of living issue," Skousen told Michelle Makori, editor-in-chief of Kitco News on the sidelines of the Flexibility Feast 2021 seminar.
Skousen is the editor-in-chief of Projections & Strategies as well as is presently on the professors of Chapman College where he is a Presidential Fellow.
Comply With Michelle Makori on Twitter: @MichelleMakori ()
Comply With Mark Skousen on Twitter: @mskousen ()
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If gold price breaks through $2,000, we have a dangerous inflation problem - Mark Skousen
Inflation concerns are escalating on loose monetary policies and unprecedented stimulus, with June CPI data rising at the fastest level since 2008. However, this has not been reflected in the price of gold with the precious metal not hitting the $1,900 an ounce level since January.
Mark Skousen, an award-winning economist, warns that if gold were to breach the $2,000 an ounce level that would indicate that inflation is a very serious problem.
"Gold tends to be a leading indicator of inflation, and gold is moving up, but it hasn't broken above the $1,900 level. But if it does break that level, and goes from $2,000 to $2,100, that suggests a very serious inflation problem," Skousen told Michelle Makori, editor-in-chief of Kitco News on the sidelines of the Freedom Fest 2021 conference.
Skousen is the editor-in-chief of Forecasts & Strategies and is currently on the faculty of Chapman University where he is a Presidential Fellow.
Follow Michelle Makori on Twitter: @MichelleMakori (https://twitter.com/MichelleMakori)
Follow Mark Skousen on Twitter: @mskousen (https://twitter.com/mskousen)
__________________________________________________________________
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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