First published by Money Metals Exchange here:
https://www.moneymetals.com/news/2023/02/27/silver-gold-hedge-against-inflation-002689
Gold bugs started 2023 with high hopes after the precious metals sector showed impressive relative strength versus paper assets in 2022. So far, no good. Gold and silver futures prices got clobbered again last week. The U.S. dollar is back on the rise against other major currencies, interest rates jumped and rattled investors were in the mood to sell paper assets including stocks and metals futures contracts.
