Here's when gold price will bottom says Phil Streible

March 12, 2021

New York (Mar 12)  Gold's role as the primary inflation hedge has been replaced by other assets, as investors bet on raw commodities to outperform during a reflationary environment, said Phil Streible, chief market strategist of Blue Line Futures.

"Typically, [gold and inflation expectation] do correlate together because gold has historically been a great asset class for inflation," Streible said. "However, when all asset classes, and in specifically commodities, basically went to unprecedented lower levels, things like lumber, crude oil are going negative, everything from your grain markets, copper, everything got smashed  one year ago today…the price of those commodities have really taken off on the upside."

Gold has been the worst performing asset year-to-date, when compared to equity indices, cryptocurrencies, and other raw commodities like crude oil.

Streible said that gold will start to bottom in the second half of the year as interest rates eventually come back down.


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