Gold's Collapse Is Ignoring The Stagflationary Recession Ahead

2026-05-24 08:00:00 ET

In early February of this year, I wrote an article talking about the plunge that gold and oil prices saw as political and economic tensions started to ease. Gold and silver, especially gold, have historically been viewed as a barometer of global geopolitical and economic risk. So even though it's unfortunate to see prices decline if you own those precious metals or stocks that benefit from them, it generally is good for the economy if prices do pull back. Since then, a lot has transpired. In late February, the US launched a war against Iran. That is probably the single largest geopolitical issue. But on top of this, the economic climate continues to show signs of weakness and now we are looking like we are almost certainly heading into a stagflationary recession....

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