Gold at $5,000 Isn't Expensive If the Thing It's Priced Against Is Breaking
Gold at $5,000 looks overpriced in isolation. But measured against $1.9 trillion deficits, a Fed trapped between 3% inflation and 1.4% GDP growth, and an S&P 500 where 10 stocks are 41% of the index, it's pricing in something equities refuse to acknowledge.
By Ray Vega · 5 min read