Gold continues to seesaw around $1900 as the dollar hits a two-year high
Deutsche Bank sees higher inflation as the “defining macro story of the decade”

(USAGOLD – 4/27/2022) – Gold continued to seesaw around the $1900 with a firmer dollar – now at two-year highs – the dominant feature in this morning’s trading. It is down $4 at $1904. Silver is up 15¢ at $23.71. As next week’s Fed meeting draws near, concern mounts over the prospect of global stagflation. In an analysis reviewed this morning at Zero Hedge, Deutsche Bank doubles down on its recent prediction that “higher inflation” will be the “defining macro story of the decade” and that sentiment is now “skewed heavily to the downside risk of a significant recession.” The prospect of an inflationary recession, though, simply tops a lengthy list of investor concerns that includes further escalation in the Ukraine war, the China lockdowns, a more hawkish Fed, supply disruptions – etc. According to a Reuters report yesterday, Swiss gold exports to the United States “rocketed” higher in March to their highest level since the early days of the pandemic in 2020 as investors “stocked up on bullion.”