{"id":88984,"date":"2021-05-21T12:16:00","date_gmt":"2021-05-21T16:16:00","guid":{"rendered":"https:\/\/ibkrcampus.com\/?p=88984"},"modified":"2023-02-10T13:32:59","modified_gmt":"2023-02-10T18:32:59","slug":"gold-digital-gold-and-inflation","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/commodities\/gold-digital-gold-and-inflation\/","title":{"rendered":"Gold, \u2018Digital Gold\u2019 and Inflation"},"content":{"rendered":"\n<p>This has been a long and eventful week.&nbsp; It seems like ages ago, but it was less than seven days since we saw a <a href=\"\/campus\/traders-insight\/securities\/crypto\/hey-mr-musk-can-you-please-give-us-a-break\/\">10% downward weekend move in bitcoin<\/a>.&nbsp; Though it was quite significant at the time, the second down move in two weekends proved only to be a precursor for the eye-watering down move and partial recovery that we saw in cryptocurrencies on Wednesday.&nbsp; We all know that bitcoin has been a recent underperformer this month, but the following graph illustrates just how much:<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-spx-ndx-bitcoin-and-gld-normalized-month-to-date\">SPX, NDX, Bitcoin and GLD Normalized Month-to-Date<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1100\" height=\"445\" data-src=\"\/campus\/wp-content\/uploads\/sites\/2\/2021\/05\/MTD-with-XBT-1100x445.png\" alt=\"SPX, NDX, Bitcoin and GLD Normalized Month-to-Date\" class=\"wp-image-88990 lazyload\" data-srcset=\"https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/05\/MTD-with-XBT-1100x445.png 1100w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/05\/MTD-with-XBT-700x283.png 700w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/05\/MTD-with-XBT-300x121.png 300w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/05\/MTD-with-XBT-768x311.png 768w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/05\/MTD-with-XBT-1536x622.png 1536w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/05\/MTD-with-XBT.png 1912w\" data-sizes=\"(max-width: 1100px) 100vw, 1100px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1100px; aspect-ratio: 1100\/445;\" \/><\/figure>\n\n\n\n<p><em>Source: Bloomberg<\/em><em><\/em><\/p>\n\n\n\n<p>We see that major indices like the S&amp;P 500 (SPX) and NASDAQ 100 (NDX) are relatively stable this month, bitcoin has been a significant underperformer.&nbsp; It is down by about 1\/3 this month!&nbsp; Interestingly, while \u201cdigital gold\u201d has been under significant pressure, gold prices (using the GLD ETF as a proxy) have been ticking higher.&nbsp; For the past few weeks, gold has started to follow the CRB index, which measures commodity price inflation, more than acting as the \u201canti-dollar\u201d.&nbsp; <a href=\"\/campus\/traders-insight\/securities\/commodities\/gold-commodities-and-the-inflationary-bogeyman\/\">This is a change from when we checked in about 6 weeks ago<\/a>.&nbsp;&nbsp; That was around the time that investors began to get concerned about inflation, and gold had only just begun to follow the key inflation measure after ignoring it for the prior months.&nbsp; The chart below shows how the general trends have begun to follow each other, though the correlation of daily percentage moves remains low:<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-gld-vs-crb-index-with-linear-regression\">GLD vs CRB Index with Linear Regression<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1100\" height=\"467\" data-src=\"\/campus\/wp-content\/uploads\/sites\/2\/2021\/05\/GLD-vs-CRB-1100x467.png\" alt=\"GLD vs CRB Index with Linear Regression\" class=\"wp-image-88991 lazyload\" data-srcset=\"https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/05\/GLD-vs-CRB-1100x467.png 1100w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/05\/GLD-vs-CRB-700x297.png 700w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/05\/GLD-vs-CRB-300x127.png 300w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/05\/GLD-vs-CRB-768x326.png 768w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/05\/GLD-vs-CRB-1536x652.png 1536w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/05\/GLD-vs-CRB.png 1918w\" data-sizes=\"(max-width: 1100px) 100vw, 1100px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1100px; aspect-ratio: 1100\/467;\" \/><\/figure>\n\n\n\n<p><em>Source: Bloomberg<\/em><em><\/em><\/p>\n\n\n\n<p>A few weeks of general trend following with a low actual correlation is hardly a foolproof trading signal, but it is notable that investors may be focusing on gold as an inflation hedge after looking elsewhere.&nbsp; Certainly those who looked to bitcoin as an inflation hedge in recent weeks have been severely disappointed.&nbsp; That said, even after the recent declines, bitcoin remains a star performer year-to-date:<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-spx-bitcoin-gld-crb-normalized-year-to-date\">SPX, Bitcoin, GLD, CRB Normalized Year-to-Date<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1100\" height=\"445\" data-src=\"\/campus\/wp-content\/uploads\/sites\/2\/2021\/05\/Normalized-YTD-1100x445.png\" alt=\"SPX, Bitcoin, GLD, CRB Normalized Year-to-Date\" class=\"wp-image-88993 lazyload\" data-srcset=\"https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/05\/Normalized-YTD-1100x445.png 1100w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/05\/Normalized-YTD-700x283.png 700w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/05\/Normalized-YTD-300x121.png 300w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/05\/Normalized-YTD-768x311.png 768w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/05\/Normalized-YTD-1536x622.png 1536w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/05\/Normalized-YTD.png 1920w\" data-sizes=\"(max-width: 1100px) 100vw, 1100px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1100px; aspect-ratio: 1100\/445;\" \/><\/figure>\n\n\n\n<p><em>Source: Bloomberg<\/em><em><\/em><\/p>\n\n\n\n<p>Bitcoin is still up about 30% this year.&nbsp; That would normally be considered stellar performance, but it pales somewhat when we consider its volatility. The problem is especially acute when we consider that many crypto investors were late to the game.&nbsp; <a href=\"\/campus\/traders-insight\/securities\/crypto\/id-bet-bitcoin-had-a-wilder-weekend-than-you-did\/\">I wrote about this phenomenon on April 19<sup>th<\/sup><\/a>, just after bitcoin peaked:<\/p>\n\n\n\n<p><em>\u2026 my wife\u2019s explanation \u2026 \u201con Wednesday, my financially illiterate trainer finally heard about Bitcoin and recommend that I should invest in it because she heard was impossible to lose money doing so.\u201d&nbsp; That was roughly the top of bitcoin, at least for now.&nbsp; A similar recommendation from a shoeshine boy allowed Joseph Kennedy to largely avoid the stock market crash of 1929.<\/em><\/p>\n\n\n\n<p>As of now, my wife\u2019s trainer top-ticked bitcoin and proves inversely prophetic.&nbsp; I don\u2019t want to blame her, though.&nbsp; She was repeated what she heard from other excited clients who had recently bought bitcoin and had been profiting from the crypto\u2019s rise until then.&nbsp;<\/p>\n\n\n\n<p>Also bear in mind that while gold has been performing better lately, it is still down marginally this year and has not kept pace with a CRB Index that is over 15% higher.&nbsp;&nbsp; There is no perfect hedge for commodity price inflation other than buying the commodities themselves.&nbsp; But that\u2019s not a hedge, that\u2019s either investment or speculation.&nbsp;<\/p>\n\n\n\n<p>As of now, the steady year-to-date 11% appreciation in SPX has been a solid winner for many, even despite this month\u2019s flattish performance.&nbsp; It may seem dull relative to other investment choices, and there may be bumps in that index ahead, but it is proving to be a winner so far.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>While \u201cdigital gold\u201d has been under significant pressure, gold prices (using the GLD ETF as a proxy) have been ticking higher.  <\/p>\n","protected":false},"author":4,"featured_media":84878,"comment_status":"closed","ping_status":"open","sticky":true,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[21,14700,6,8,9,26,3],"tags":[410,255,2579],"contributors-categories":[13576],"class_list":{"0":"post-88984","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-commodities","8":"category-ibkr-market-insights","9":"category-north-america","10":"category-region","11":"category-securities","12":"category-text-articles","13":"category-traders-insight","14":"tag-bitcoin","15":"tag-gold","16":"tag-hedge","17":"contributors-categories-interactive-brokers"},"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v27.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Gold, \u2018Digital Gold\u2019 and Inflation | Traders&#039; Insight<\/title>\n<meta name=\"description\" content=\"While \u201cdigital gold\u201d has been under significant pressure, gold prices (using the GLD ETF as a proxy) have been ticking higher.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.interactivebrokers.com\/campus\/wp-json\/wp\/v2\/posts\/88984\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gold, \u2018Digital Gold\u2019 and Inflation | IBKR Campus US\" \/>\n<meta property=\"og:description\" content=\"While \u201cdigital gold\u201d has been under significant pressure, gold prices (using the GLD ETF as a proxy) have been ticking higher.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/gold-digital-gold-and-inflation\/\" \/>\n<meta property=\"og:site_name\" content=\"IBKR Campus US\" \/>\n<meta property=\"article:published_time\" content=\"2021-05-21T16:16:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-02-10T18:32:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/04\/crypto-gold-futures.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"563\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Steve Sosnick\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Steve Sosnick\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\n\t    \"@context\": \"https:\\\/\\\/schema.org\",\n\t    \"@graph\": [\n\t        {\n\t            \"@type\": \"NewsArticle\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/gold-digital-gold-and-inflation\\\/#article\",\n\t            \"isPartOf\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/gold-digital-gold-and-inflation\\\/\"\n\t            },\n\t            \"author\": {\n\t                \"name\": \"Steve Sosnick\",\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/person\\\/31988d9596575a63ddc53e92049a2549\"\n\t            },\n\t            \"headline\": \"Gold, \u2018Digital Gold\u2019 and Inflation\",\n\t            \"datePublished\": \"2021-05-21T16:16:00+00:00\",\n\t            \"dateModified\": \"2023-02-10T18:32:59+00:00\",\n\t            \"mainEntityOfPage\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/gold-digital-gold-and-inflation\\\/\"\n\t            },\n\t            \"wordCount\": 621,\n\t            \"publisher\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#organization\"\n\t            },\n\t            \"image\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/gold-digital-gold-and-inflation\\\/#primaryimage\"\n\t            },\n\t            \"thumbnailUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2021\\\/04\\\/crypto-gold-futures.jpg\",\n\t            \"keywords\": [\n\t                \"Bitcoin\",\n\t                \"gold\",\n\t                \"hedge\"\n\t            ],\n\t            \"articleSection\": [\n\t                \"Commodities\",\n\t                \"IBKR Insights\",\n\t                \"North America\",\n\t                \"Region\",\n\t                \"Securities\",\n\t                \"Text Articles\",\n\t                \"Traders' Insight\"\n\t            ],\n\t            \"inLanguage\": \"en-US\"\n\t        },\n\t        {\n\t            \"@type\": \"WebPage\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/gold-digital-gold-and-inflation\\\/\",\n\t            \"url\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/gold-digital-gold-and-inflation\\\/\",\n\t            \"name\": \"Gold, \u2018Digital Gold\u2019 and Inflation | IBKR Campus US\",\n\t            \"isPartOf\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#website\"\n\t            },\n\t            \"primaryImageOfPage\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/gold-digital-gold-and-inflation\\\/#primaryimage\"\n\t            },\n\t            \"image\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/gold-digital-gold-and-inflation\\\/#primaryimage\"\n\t            },\n\t            \"thumbnailUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2021\\\/04\\\/crypto-gold-futures.jpg\",\n\t            \"datePublished\": \"2021-05-21T16:16:00+00:00\",\n\t            \"dateModified\": \"2023-02-10T18:32:59+00:00\",\n\t            \"description\": \"While \u201cdigital gold\u201d has been under significant pressure, gold prices (using the GLD ETF as a proxy) have been ticking higher.\",\n\t            \"inLanguage\": \"en-US\",\n\t            \"potentialAction\": [\n\t                {\n\t                    \"@type\": \"ReadAction\",\n\t                    \"target\": [\n\t                        \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/gold-digital-gold-and-inflation\\\/\"\n\t                    ]\n\t                }\n\t            ]\n\t        },\n\t        {\n\t            \"@type\": \"ImageObject\",\n\t            \"inLanguage\": \"en-US\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/gold-digital-gold-and-inflation\\\/#primaryimage\",\n\t            \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2021\\\/04\\\/crypto-gold-futures.jpg\",\n\t            \"contentUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2021\\\/04\\\/crypto-gold-futures.jpg\",\n\t            \"width\": 1000,\n\t            \"height\": 563\n\t        },\n\t        {\n\t            \"@type\": \"WebSite\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#website\",\n\t            \"url\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/\",\n\t            \"name\": \"IBKR Campus US\",\n\t            \"description\": \"Financial Education from Interactive Brokers\",\n\t            \"publisher\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#organization\"\n\t            },\n\t            \"potentialAction\": [\n\t                {\n\t                    \"@type\": \"SearchAction\",\n\t                    \"target\": {\n\t                        \"@type\": \"EntryPoint\",\n\t                        \"urlTemplate\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/?s={search_term_string}\"\n\t                    },\n\t                    \"query-input\": {\n\t                        \"@type\": \"PropertyValueSpecification\",\n\t                        \"valueRequired\": true,\n\t                        \"valueName\": \"search_term_string\"\n\t                    }\n\t                }\n\t            ],\n\t            \"inLanguage\": \"en-US\"\n\t        },\n\t        {\n\t            \"@type\": \"Organization\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#organization\",\n\t            \"name\": \"Interactive Brokers\",\n\t            \"alternateName\": \"IBKR\",\n\t            \"url\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/\",\n\t            \"logo\": {\n\t                \"@type\": \"ImageObject\",\n\t                \"inLanguage\": \"en-US\",\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/logo\\\/image\\\/\",\n\t                \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2024\\\/05\\\/ibkr-campus-logo.jpg\",\n\t                \"contentUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2024\\\/05\\\/ibkr-campus-logo.jpg\",\n\t                \"width\": 669,\n\t                \"height\": 669,\n\t                \"caption\": \"Interactive Brokers\"\n\t            },\n\t            \"image\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/logo\\\/image\\\/\"\n\t            },\n\t            \"publishingPrinciples\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/about-ibkr-campus\\\/\",\n\t            \"ethicsPolicy\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/cyber-security-notice\\\/\"\n\t        },\n\t        {\n\t            \"@type\": \"Person\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/person\\\/31988d9596575a63ddc53e92049a2549\",\n\t            \"name\": \"Steve Sosnick\",\n\t            \"description\": \"Steve is the Chief Strategist at Interactive Brokers. He has held numerous roles in the organization since joining Timber Hill, IBKR\u2019s predecessor, in 1995 as Equity Risk Manager and an options market maker. He developed and implemented automated trading strategies for stocks and options before moving into his current role. Steve has guest authored several columns in Barron\u2019s and made numerous live on Bloomberg TV and Radio, CNBC, Yahoo Finance, Fox Business, and several other media outlets in North America, Asia, Australia, and the Middle East in addition to being quoted frequently in print and electronic media. Prior to joining Interactive Brokers, Sosnick held senior trading roles at Morgan Stanley, Lehman Brothers, and Salomon Brothers, where he completed the firm\u2019s famed training program.\",\n\t            \"sameAs\": [\n\t                \"https:\\\/\\\/ibkr.com\"\n\t            ],\n\t            \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/author\\\/steve-sosnick\\\/\"\n\t        }\n\t    ]\n\t}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Gold, \u2018Digital Gold\u2019 and Inflation | Traders' Insight","description":"While \u201cdigital gold\u201d has been under significant pressure, gold prices (using the GLD ETF as a proxy) have been ticking higher.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.interactivebrokers.com\/campus\/wp-json\/wp\/v2\/posts\/88984\/","og_locale":"en_US","og_type":"article","og_title":"Gold, \u2018Digital Gold\u2019 and Inflation | IBKR Campus US","og_description":"While \u201cdigital gold\u201d has been under significant pressure, gold prices (using the GLD ETF as a proxy) have been ticking higher.","og_url":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/gold-digital-gold-and-inflation\/","og_site_name":"IBKR Campus US","article_published_time":"2021-05-21T16:16:00+00:00","article_modified_time":"2023-02-10T18:32:59+00:00","og_image":[{"width":1000,"height":563,"url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/04\/crypto-gold-futures.jpg","type":"image\/jpeg"}],"author":"Steve Sosnick","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Steve Sosnick","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/gold-digital-gold-and-inflation\/#article","isPartOf":{"@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/gold-digital-gold-and-inflation\/"},"author":{"name":"Steve Sosnick","@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/person\/31988d9596575a63ddc53e92049a2549"},"headline":"Gold, \u2018Digital Gold\u2019 and Inflation","datePublished":"2021-05-21T16:16:00+00:00","dateModified":"2023-02-10T18:32:59+00:00","mainEntityOfPage":{"@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/gold-digital-gold-and-inflation\/"},"wordCount":621,"publisher":{"@id":"https:\/\/ibkrcampus.com\/campus\/#organization"},"image":{"@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/gold-digital-gold-and-inflation\/#primaryimage"},"thumbnailUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/04\/crypto-gold-futures.jpg","keywords":["Bitcoin","gold","hedge"],"articleSection":["Commodities","IBKR Insights","North America","Region","Securities","Text Articles","Traders' Insight"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/gold-digital-gold-and-inflation\/","url":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/gold-digital-gold-and-inflation\/","name":"Gold, \u2018Digital Gold\u2019 and Inflation | IBKR Campus US","isPartOf":{"@id":"https:\/\/ibkrcampus.com\/campus\/#website"},"primaryImageOfPage":{"@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/gold-digital-gold-and-inflation\/#primaryimage"},"image":{"@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/gold-digital-gold-and-inflation\/#primaryimage"},"thumbnailUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/04\/crypto-gold-futures.jpg","datePublished":"2021-05-21T16:16:00+00:00","dateModified":"2023-02-10T18:32:59+00:00","description":"While \u201cdigital gold\u201d has been under significant pressure, gold prices (using the GLD ETF as a proxy) have been ticking higher.","inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ibkrcampus.com\/campus\/traders-insight\/gold-digital-gold-and-inflation\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/gold-digital-gold-and-inflation\/#primaryimage","url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/04\/crypto-gold-futures.jpg","contentUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/04\/crypto-gold-futures.jpg","width":1000,"height":563},{"@type":"WebSite","@id":"https:\/\/ibkrcampus.com\/campus\/#website","url":"https:\/\/ibkrcampus.com\/campus\/","name":"IBKR Campus US","description":"Financial Education from Interactive Brokers","publisher":{"@id":"https:\/\/ibkrcampus.com\/campus\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ibkrcampus.com\/campus\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ibkrcampus.com\/campus\/#organization","name":"Interactive Brokers","alternateName":"IBKR","url":"https:\/\/ibkrcampus.com\/campus\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/logo\/image\/","url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/ibkr-campus-logo.jpg","contentUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/ibkr-campus-logo.jpg","width":669,"height":669,"caption":"Interactive Brokers"},"image":{"@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/logo\/image\/"},"publishingPrinciples":"https:\/\/www.interactivebrokers.com\/campus\/about-ibkr-campus\/","ethicsPolicy":"https:\/\/www.interactivebrokers.com\/campus\/cyber-security-notice\/"},{"@type":"Person","@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/person\/31988d9596575a63ddc53e92049a2549","name":"Steve Sosnick","description":"Steve is the Chief Strategist at Interactive Brokers. He has held numerous roles in the organization since joining Timber Hill, IBKR\u2019s predecessor, in 1995 as Equity Risk Manager and an options market maker. He developed and implemented automated trading strategies for stocks and options before moving into his current role. Steve has guest authored several columns in Barron\u2019s and made numerous live on Bloomberg TV and Radio, CNBC, Yahoo Finance, Fox Business, and several other media outlets in North America, Asia, Australia, and the Middle East in addition to being quoted frequently in print and electronic media. Prior to joining Interactive Brokers, Sosnick held senior trading roles at Morgan Stanley, Lehman Brothers, and Salomon Brothers, where he completed the firm\u2019s famed training program.","sameAs":["https:\/\/ibkr.com"],"url":"https:\/\/www.interactivebrokers.com\/campus\/author\/steve-sosnick\/"}]}},"jetpack_featured_media_url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/04\/crypto-gold-futures.jpg","_links":{"self":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/posts\/88984","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/comments?post=88984"}],"version-history":[{"count":0,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/posts\/88984\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/media\/84878"}],"wp:attachment":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/media?parent=88984"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/categories?post=88984"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/tags?post=88984"},{"taxonomy":"contributors-categories","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/contributors-categories?post=88984"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}