In our last take on the outlook for gold, we wrote that the combination of slowing growth outside the United States and rising inflation meant more weakness lay in store for the precious metal. When both US growth and inflation are high, the Fed is more likely to raise rates with the aid of supportive data. In an environment where US growth is outperforming its major peers, the US dollar also tends to strengthen. This combination of factors is particularly painful for gold. While the precious metal traded around $1,320/ounce at the time of our last commentary, gold has since weakened to around $1,290 today. We ... (full story)