Let Them Eat Gold - The Atlantic
Let Them Eat Gold - The Atlantic
Source: The Atlantic
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DW NOTE
The Atlantic chooses an inflammatory title for what is presumably a critique of gold as an inflation hedge. But the critique arrives six months late. Gold is already down 24% from January's panic high of $5,318, now trading at $4,049. The speculative fever has broken without editorial assistance. What remains is a 23% year-over-year gain against an economy where producer prices run two full points hotter than the CPI — exactly the environment that made the metal rally credible in the first place.