Gold’s inflation narrative is changing after $40 price rally

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It has been another positive week for gold after months of no action. The momentum has taken prices $40 higher on the week as gold breached key resistance levels of $1,835 and $1,850 an ounce. Here is a look at Kitco’s top three stories of the week:

3. U.S. inflation rate highest in 31 years as CPI rises 6.2%

https://www.kitco.com/news/2021-11-10/Gold-prices-fall-as-U-S-CPI-rises-6-2-for-the-year.html

2. Gold price jumps nearly $40, bitcoin hits new all-time highs as markets react to inflation data

https://www.kitco.com/news/2021-11-10/Gold-price-jumps-nearly-40-as-U-S-inflation-rate-highest-in-30-years-Yellen-says-Fed-would-prevent-the-1970s-scenario.html

https://www.kitco.com/news/2021-11-09/Singapore-s-central-bank-frowns-on-crypto-warns-of-significant-losses-as-bitcoin-and-ethereum-scale-record-bull-rally.html

1. Watch this change in gold price narrative as it’s still a cheap inflation hedge compared to crypto – MKS PAMP GROUP

https://www.kitco.com/news/2021-11-11/Watch-this-change-in-gold-price-narrative-as-precious-metal-still-cheap-compared-to-crypto-as-inflation-hedge-MKS-PAMP-GROUP.html

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