AAAU - Gold's Recent Headwind Shifts To A Tailwind

• With inflation now rising much faster than interest rates, real rates have now fallen to a level that should be about as bullish for gold prices as anything we have seen in recent years.
• So far, investors don’t seem to read it this way and the gold price is giving back some of its recent gains this morning.
• However, should these nascent trends in inflation and interest rates prove to be more than “transitory,” as Dr. Copper would seem to suggest, it would appear that the gold price could be significantly undervalued at present.

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