Inflation hit another 13-year high, expect $2k gold price by year-end if things don't change

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Inflation hit another 13-year high, expect $2k gold price by year-end if things don't change

Watch Kitco NEWS Video: Inflation hit another 13-year high, expect $2k gold price by year-end if things don't change. The U.S. Consumer Price Index (CPI) rose 0.9% in June, after a 0.6% rise in May. Year-on-year, headline inflation is now at 5.4%.

Will Rhind, CEO of GraniteShares, said that gold, being an inflation hedge, can continue to rise if inflation does not cool off later this year.

"I think if we start to see inflation numbers high or elevated after the summer, when everybody gets back from vacations, September time, I think we can easily see [$2,000 gold] before the end of the year," Rhind told David Lin, anchor for Kitco News.

0:00 – Headline CPI rose to 5.4%
2:30 – What is an inflation hedge?
3:47 – Lumber has wiped out 2021 gains
8:27 – Gold responds to more than just inflation
11:34 – Gold is still undervalued
16:02 – Bitcoin vs inflation?
19:12 – Stocks vs inflation

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