Most gold bugs root for rising prices and costs, which they’d call inflation. Today’s ISM continues a string of rising cost inputs to the US manufacturing industry. Most gold bugs, in their obsession with inflation, seem to forget (ah you’re right, they never knew!) that the real investment case for gold includes an element of economic contraction.
Easy now Team Economic Deceleration, the May ISM was just a little ratchet down but it is notable that the ‘costs’ component continues upward. I have circled the things that are important to me, being a former manufacturing guy and all.
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