Provided Gold is a hedge against inflation, and its international demand remains stable Its price should rise with inflation.
Historically Gold has risen and lowed with inflation and deflation cycles. Silver has remained within a historical range of Gold and also is subject to fluctuations.
The historical standard of 20-1 is really not applicable because this was set by governments and not market forces.
Regardless, Silver and Golds Price in relation to the USD appears to be greatly undervalued when compared to Inflation within the US.
This could be that both Silver and Gold world wide are "undervalued" Or the USD is "overvalued"
We are long on SILVER and GOLD as inflationary forces set in place by quantitative easing appears to not have had effect on the Prices of these Industrial commodities and monetary units.
GoldHarmonic PatternsSilver

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