There is virtually no connection between inflation and gold prices.
Not only that, but EVERYONE is now talking about buying gold. That makes it a fairly crowded trade, i.e., if everybody wants it, it’s probably time to take some $ off the table.
If you must buy gold, for God’s sake, don’t buy the real stuff - the markups are killers. If you buy gold stocks or ETFs keep them to no more than 5% of your portfolio. Remember, this is a hedge against uncertainty in the world, not a free standing investment.
BTW. Professor Morici is a good guy. The rest of his department must loathe him. How did he ever get tenure?
Bingo! With all of the gold touts on television and radio, all of the faux financial advice being given out about how wonderful gold is, it’s no wonder the price has sky-rocketed.