If gold price breaks through $2,000, we have a dangerous inflation problem – Mark Skousen

Kitco News, Released on 7/29/21

Inflation concerns are escalating on loose monetary policies and unprecedented stimulus, with June CPI data rising at the fastest level since 2008. However, this has not been reflected in the price of gold with the precious metal not hitting the $1,900 an ounce level since January. Mark Skousen, an award-winning economist, warns that if gold were to breach the $2,000 an ounce level that would indicate that inflation is a very serious problem.

“Gold tends to be a leading indicator of inflation, and gold is moving up, but it hasn’t broken above the $1,900 level. But if it does break that level, and goes from $2,000 to $2,100, that suggests a very serious inflation problem,” Skousen told Michelle Makori, editor-in-chief of Kitco News on the sidelines of the Freedom Fest 2021 conference.

Joel Skousen is the editor-in-chief of Forecasts & Strategies and is currently on the faculty of Chapman University where he is a Presidential Fellow.

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