[Workaccount2]

Inflation is being priced in.

Globally faith in the USD is being lost, and anyone paying attention knows one of Trump's main economic goals is to weaken the dollar. He also clearly wants to tamper with the fed and economic data, which just ads fuel to the fire.

Meanwhile there isn't really a solid alternate to the dollar, so precious metals are default.

[AnimalMuppet]

Yeah. I remember my mother asking me "If inflation is here, why isn't gold going up?"

But I think that the answer is "pricing in". When there's a month of inflation after 15 years of none, you price in a one-month blip of inflation. When you look at a year or two of inflation, plus the deficit with no end in sight, you price in inflation forever. Those lead to two very different prices.

[resters]

gold has gone up more than most stocks in the last year, FYI. If you price the S&P in gold, it has declined steadily since 2000. Chinese industrials have increased priced in gold since 2000, incidentally.