What’s up with gold?
“U.S.-based gold investors may be frustrated by the dollar’s strength. With consumer price inflation raging at a 40-year high, shouldn’t the price of gold be shooting to the moon? Simple logic says yes. Gold is a venerable hedge against inflation. Consumer price inflation is raging out of control. Therefore, gold, as priced in dollars, should be adjusted upward. But that’s not what’s happening. At least not yet. After hitting $2,039 per ounce in early March, the price of gold, in dollar terms, is down 9.7 percent. If you’re sitting on a pile of cash, now’s certainly a good time to trade some of it in for gold bullion coins – and silver too.”
USAGOLD note: By and large, those who are accumulating gold for long-term asset preservation purposes take advantage of corrections and quiet periods such as we are in now in the way Gordon suggests.