Why are people buying gold when core inflation is 2.7%, well within historic levels? The answer is that China is taking its trade surplus dollars and buying gold rather than US treasuries, as in the past.
They plan to leverage their slave labor and steal the wages and profits from their own people to strategically offer an RMB backed by gold. This will allow the BRICS countries to avoid US sanctions and undermine the reserve currency status of the USD.
If you are investing in gold, you are betting that slave labor will allow China to destroy the US economy. It’s a reasonable bet they will succeed, but I’m still not buying what is essentially a rock priced by the “greater fool.”
You actually believe that core inflation is 2.7%, I would continue this higher than that and 2026 will see inflation come back with a vengeance.