Gold posts modest early gain, silver up sharply

Gold posts modest early gain, silver up sharply by Michael J Kosares for USA Gold

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Gold posted a modest gain in today’s early going as investors added social unrest to the list of concerns prompting a flight to safe-havens.  It is up $5 on the day at $1739. Silver is up sharply at $18.30 – a 35¢ gain.  Silver’s strength is an indication that a good many investors see inflation as the next portfolio threat needing to be navigated. Among that group is Atlantic House Fund Management’s Charlie Morris.

“The point,” he says in a report published recently in The Alchemist quarterly review, “is that there is a rational framework from which you can understand the dynamics of the gold market. Owning gold does not mean you have to fly blind. The current gold premium is telling us that higher inflation is coming. The implications for asset classes are immense. Higher inflation implies a weaker dollar, which implies higher commodity prices and a surge in emerging market equities. It will make bonds unattractive and potentially drive down equity valuations in the developed world. The last time we saw this was in the 1970s. Those that thrived owned gold.”

Chart of the Day

line chart showing gold price in Indiia rupee

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