It’s unclear how this will all play out. One thing is clear, though – monetary inflation isn’t going anywhere, and where there is monetary inflation, price inflation will likely follow.
In the latest survey, 23% of the respondents chose gold as the best long-term investment, up 5 from last year. In 2011 at the height of money creation by the Fed, 34% of Americans polled chose gold as the top asset.
If gold prices continue to rise, it will be interesting to see how Indian consumers continue to adjust. One thing is pretty certain -- they will likely find ways to have gold.
Amid global economic chaos and geopolitical uncertainty, gold hit an all-time high of $3,500 an ounce on April 22. Year to date, the precious metal is up 29%.
Both gold and silver are undergoing healthy consolidation phases after their strong rallies, allowing them to reset and work off overbought conditions.
