Oh what a setup for gold ! ( bring your calculator )

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Gold is a global commodity. You need to use the increase in the global money supply, which is certainly not 52%


People frequently cite that M2 money supply graph without reading it, or understanding it. The reason there was a spike in May 2020 was due to a change in definition of the term being measured. This is explained on the bottom of the graph in question, as well as the May 2020 press release by the Fed. Also while in theory gold could be a hedge against inflation, historically it has not done this well at all. Equity, bonds, and real estate all hedge better against inflation on average than gold, and more consistently do this as well.


How do you think the rising narrative of bitcoin as an inflation hedge will affect gold? Will that take a chunk of the growth of gold? It’s much more accessible now that apps like PayPal and Square let people buy it. Arguably it also seems to have a hype across both retail and corporate buyers.


If this is your thesis I would say you should be in all commodities not just gold. Many are doing quite well except gold. Thinks like lumber, copper, ect. the other thing to think about is how much of golds price is speculators. If they abandon ship the fundamentals won’t matter for a long time


Gold is no longer the sole “hedge” for money printing. For starters, there is bitcoin (I think it is useless, but reality trumps opinions) Plus, like someone else pointed out, Rhodium (it’s been on a tear), copper, silver, are appropriate hedges. So is the stock index (S&P500, DJIA, pick your poison)