Gold’s fade shows investors ‘not fully positioned for a prolonged stagflationary impulse’ – BNY’s Savage

(Kitco News) – After breaking its five-week winning streak last week, investors still see gold as an essential alternative to fiat currencies but don’t see the earlier momentum, and restoring the historical correlation between oil and gold will require either significantly higher oil or lower gold prices, according to Bob Savage, head market strategist at BNY.