Record Gold, Rising Food Costs May Mean Inflation: Chart of Day
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Record gold prices and rising agriculture costs may signal a “coming wave” of accelerating consumer-price inflation, according to brokerage GoldCore Ltd.
The CHART OF THE DAY shows gold, bought by some investors to hedge against inflation, climbing 20 percent this year to an all-time high, while the S&P GSCI Agriculture Index last month surged to a two-year high. Year-over-year gains in U.S. consumer prices excluding food and fuel remained steady at a 44-year low of 0.9 percent since April.