China Buying Gold and Limited Supply Are Factors in Raised Gold Prices: Economist

Gold prices reached a record high of $2,449.89. U.S. inflation is playing a key factor. But Daniel LaCalle, chief economist at Tressis Hedge Fund, said there are a number of reasons prices went up. This includes China stocking up on the precious metal, because of the United States’ continued high inflation. Mr. LaCalle explains why China is leaning into gold for its central bank and away from U.S. treasuries. He also weighs in on how the Federal Reserve could be improved, instead of abolished.

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