2021 was a dismal year for gold, falling 4% while the S&P 500 gained 27%. However year-to-date (YTD), gold is up 5%, outpacing the S&P 500, which is down about 3%.
Gold has caught a bid this year despite the Fed raising rates and fiscal deficits narrowing. However, two major catalysts driving gold prices higher: inflation data that continues to come in above expectations and heightened geopolitical risk, due to Russia’s invasion of Ukraine.
