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Morningstar: Record Devaluation of Cash Drives Gold Higher

LONDON, 10 November 2021 – Analysis and comment from BullionVault today leads the latest gold-price report published on investment ratings site Morningstar.

With the US Consumer Price Index up 6.2% year over year in October, "The worst inflation in three decades means the worst ever loss of purchasing power for cash savers," it quotes Adrian Ash, director of research at BullionVault.

"Bitcoin has jumped for the same reason. Savers and traders alike are looking for alternatives to cash."

Read the full story, first posted at MarketWatch, at Morningstar here:

Why surging U.S. inflation has gold bulls looking for record highs

Source: 
Morningstar