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Europe’s record-high gas and electricity prices foretell more widespread inflation


MarketsInsider/Harry Robertson/9-13-2021

“Goldman said it expects the S&P GSCI commodities index to return 11% or more over the next 12 months. The index is dominated by oil, and it includes a heavy weighting of gold and agricultural products such as corn.”

USAGOLD note: Are we experiencing just the tip of the inflationary iceberg? We should keep in mind that Goldman’s Jeffrey Currie foresaw the price escalation in the commodities complex, including gold and silver, many months ago. As the chart below shows, the S&P GSCI is up more than 50% over the past year.

line chart showing the strong percentage gain in the SPGSCI over the past 12 months

Chart courtesy of TradingEconomics.com

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