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Bank of England official says gold price 'tells you precisely nothing'
But doesn't it at least reveal that gold is more in demand than the British pound or Deutschebank shares?
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Gold Is a Terrible Predictor of Inflation, Bank of England's Vlieghe Says
By Lucy Meakin
Bloomberg News
Wednesday, September 2, 2020
Bank of England policy maker Gertjan Vlieghe warned that it's a "terrible idea" to look at gold prices as a predictor of inflation.
Investors have piled into bullion this year, pushing the price up 30%, amid speculation that massive government spending worldwide to counter the coronavirus shock will push inflation higher.
But Vlieghe, a former Deutsche Bank AG bond strategist, told U.K. lawmakers today that the record-high price of gold "tells you precisely nothing." ...
... For the remainder of the report:
https://www.bloomberg.com/news/articles/2020-09-02/gold-is-a-terrible-pr...
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with great GATA-label wine
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Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon --
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