fromThe Atlantic
1 week agoWhat the Current Gold Rush Is Telling Us
Last week, amid widespread geopolitical turmoil and a weakening U.S. dollar, the price of gold hit a historic high of $4,000 an ounce. This year has so far been gold's best since 1979, a moment of instability so profound that it led to recession. Gold prices are much closer to a genuine "recession indicator" than, say, the resurgence of frozen yogurt or an uptick in Uber Eats orders. That's because, over the past 50 years, spikes in the price of gold have typically been correlated with widespread inflation and geopolitical dysfunction.
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