The market view that higher inflation is good for the price of gold is based around its use as an inflation hedge. In other words, gold is an asset that will hold its value better than others as the value of currencies are eroded by price rises
However as interest rates increase to combat this then gold becomes less attractive.....imo I think that's the way it works.
Ann: Mining ramps up ahead of 1st production in June quarter 2022, page-182
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