Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hi James, Can you please provide some insight around gold at the moment. Inflation looks to be the real deal with increasing talk of it becoming more than just a transitory thing. As I understand Gold is generally considered favourable in an inflationary environment. It doesnt seem to be embracing that theme at present. Like MM I am long a couple of gold stocks and finding the whole gold thing a bit frustrating. I would appreciate your insights. Regards Andrew
Hi Andrew,
I’ve said a few times recently that we’re frustrated by the Gold price, however while inflation is generally a positive, rising bond yields and a higher $US that have also come with that are not. Standing back and looking at the chart below, shows gold simply consolidating a bullish trend. We held the view that Gold would break out of the range and added to exposure when it did, only to see it fail. For now we are remaining patient with our Gold positions given the structure of the Gold chart below. i.e. we still hold the view that it will break out (sustainably) on the upside.
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