BOE Official Says Gold Price ‘Tells You Precisely Nothing’, A ‘Terrible Idea’ To Look At Gold As Inflation Predictor

But doesn’t it at least reveal that gold is more in demand than the British pound, or shares of Deutsche Bank?

by Chris Powell of the Gold Anti-Trust Action Committee (GATA)

But doesn’t it at least reveal that gold is more in demand than the British pound or Deutschebank shares?

* * *

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:…

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