MacroVoices #445 Jim Bianco: Still No Landing, and Inflation is Not Transitory
Macro Voices
Gold: A Hedge Against Uncertainty and Policy Errors
Gold serves as a hedge against economic uncertainty and potential policy errors, particularly in the context of fluctuating monetary policies. The recent rally in gold prices suggests a departure from its characterization as a quasi-fiat currency influenced by ETFs and futures trading, indicating a possible return to gold's traditional role as a store of value. As cutting interest rates without clear direction may lead to significant economic challenges, the demand for gold could further increase, reinforcing its value as a safeguard during tumultuous financial periods.
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