Gold drifts higher, held in check by significantly weaker Japanese yen
Jimmy Rogers: ‘If we have inflation, you should own things.…’

(USAGOLD – 9/6/2022) – Gold drifted higher in quiet trading after a significantly weaker Japanese yen took the steam out of an early rally in Asian markets. It is up $3 at $1715. Silver is up 26¢ at $18.52. Bank of Japan governor Haruhiko Kuroda recently made clear his determination to keep monetary policy loose on the presumption inflation will cool early next year. Overnight the yen hit its lowest level since 1998 against the US dollar. Jimmy Rogers, the widely followed Singapore-based analyst, sees inflation much differently than the Bank of Japan. He says it is “calming down because nothing goes straight up,” but it is not finished yet because “governments have printed so much money, more than ever in history.”

“[T]he world is not okay now and it’s going to get worse as the war gets worse,” he concludes in a Mint interview, “In my view, this is a bear [stock] market rally.… If you look at asset classes, bonds are certainly a problem, Bonds have not been so expensive ever. Property has been forming a bubble in many countries. Many technology stocks are also forming a bubble. The only asset class I know that is cheap are commodities, which are real assets. If we have inflation, you should own things that will go up in price. Real assets always go up in inflation and that is the way I am looking to protect myself.”

Ramirez cartoon on Yellen's botched inflation callCartoon courtesy of MichaelPRamirez.com

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