Bank of England official says gold price 'tells you precisely nothing'

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But doesn't it at least reveal that gold is more in demand than the British pound or Deutschebank shares?

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Gold Is a Terrible Predictor of Inflation, Bank of England's Vlieghe Says

By Lucy Meakin
Bloomberg News
Wednesday, September 2, 2020

Bank of England policy maker Gertjan Vlieghe warned that it's a "terrible idea" to look at gold prices as a predictor of inflation.

Investors have piled into bullion this year, pushing the price up 30%, amid speculation that massive government spending worldwide to counter the coronavirus shock will push inflation higher.

But Vlieghe, a former Deutsche Bank AG bond strategist, told U.K. lawmakers today that the record-high price of gold "tells you precisely nothing." ...

... For the remainder of the report:

https://www.bloomberg.com/news/articles/2020-09-02/gold-is-a-terrible-pr...



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