Gold price in US dollars hits an all time high

Gold price in US dollars hits an all time high. The gold price just hit $1,923.30 per ounce, up $20 this morning, exceeding the last peak set in 2011.

Half an hour later, US$ 1,936.

The profligacy of manufacturing money out of thin air by banks and governments, which started in earnest in 1982 and most recently got turbocharged in response to the covid coma, is coming home to roost.

Btw, all asset classes principally go up due to monetary inflation — which has been running at 5 -15% for the last two decades, much higher than CPI. Dumb old gold keeps pace better than most:

 

 

Graph to March 2020.