Investors hoard gold, bitcoin and whisky to sooth inflation fear
Bloomberg/John Ainger, Vildana Hajric, Adeola Eribake and Eddie van der Walt
“Still, gold has recently seen a surge in demand. Hodges bought his most recent bar in May, and his timing could hardly have been better. Three months later, gold hit a record $2,064 an ounce, up from $1,700 at the start of May. It’s currently around $1,920. Anxiety about inflation is once again in the air, particularly among individual investors. Even if the past decade of stimulus wasn’t enough to conjure higher prices, the thinking goes, the Fed’s additional moves since the pandemic began may finally do the trick. Along with gold, people are stashing away Bitcoin and even whisky as they search for hedges.”
USAGOLD note: Simple question. Come a time of financial reckoning which of the three would you prefer to have within reach?
Repost from 8-27-2020