World Gold Council Report | Gold Market Alert

World Gold Council Report | Gold Market Alert

World Gold Council Report | Gold Market Alert

February 14, 2024 299 view(s)

The metals reversed this week, with gold down a fraction to $2,047, silver down 3% to $22.54, platinum off 4% to $897, and palladium down 8% to $944.


Since a year ago today, gold is up 9%, silver is up 2%, platinum is down 9%, and palladium is down by 43%.


Today, I would like to discuss the latest report from the World Gold Council about forward-looking inflation numbers and what is likely in the months ahead.  While most reports we hear say inflation has come down (it has), few discuss what is coming.


Inflation will likely rise again for the following reasons.  GDP continues to rise in the United States (due to excessive debt creation), the Employment Cost Index is rising (tracks labor costs and trends), the cost of rent continues to be a challenge (expected to add nearly 0.25% to this month’s inflation rate), and geopolitical tensions causing shipping prices to rise.


The graph to the right shows the relationship between the direction of shipping costs and price inflation.  A sustained increase in shipping costs (as we have been seeing for the last few months) inevitably leads to higher goods prices.


As history has shown, a great way to protect ourselves over time is to own gold and silver.

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