Inflation & Taxation Cometh As Investors Increase Physical Gold Delivery
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We discuss the gold and silver charts and why they are in consolidation patterns. Silver looks a bit more bullish than gold, due to its consistent industrial demand. But I believe gold is setting up for a bigger move in 2021.
We discuss how the bond yields around the world, after having fallen the past 12 months, have been rising the past month. This includes the US 10yr which is in line with Fed expectations on rising inflation.
As the same time we discuss the new administration's plan to increase spending by $1.9 trillion right out of the gate and pay for it with raising corporate taxes. New Treasury Secretary Yellen is on board with the tax rate increases.
At the end of the day, I believe corporate tax hikes will stagnate job and wage growth at the same time the Fed is pumping inflation. This is bearish for the dollar, and bullish for gold.
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