Gold snaps three-week losing streak even as oil prices rise, triggering stagflation fears - KITCO

Three weeks of gold getting hammered while oil climbs tells you everything about market confusion right now. Stagflation is the ultimate gold catalyst - rising prices with stagnant growth means central banks are trapped. They can't raise rates aggressively without breaking the economy, but they can't ignore inflation either. This is exactly the environment that drove gold from $35 to $850 in the 1970s. Oil at these levels with gold still under $2600 is a gift. Physical demand from central banks hasn't slowed, COMEX registered inventory keeps shrinking, and now we're getting the macro setup that historically sends precious metals parabolic. Stack accordingly.