[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.