What did gold do in response to the latest inflation numbers? It soared by $50, from a base of around $1,925 to $1,975 within just 5 trading days. Gold has held $1,900 since mid-February, and $1,920 since mid-March.
I’m actually surprised that the March rate of 8.5% wasn’t higher. In the past year, energy was up 32%, while food was up 8.8%. Over the last 12 months, gasoline is up 48%, transportation 7.7%, electricity 11.1%, used cars 35%, new cars 12.5%, meat/fish/eggs 13.7%, food at home 10%, food away from home 6.9%, clothing 6.8%, and shelter 5%. And yet rents are up 17%, while home prices are up 19%.
Click the image above or the following link to read Gold’s Month In Review.