Gold is supposed to be the asset you buy when prices spiral.
Yet US inflation is running at its highest level in three years, and gold is heading for a fourth straight monthly decline, sitting around a quarter below the record highs it set in January 2026.
The metal that is meant to protect you from inflation is, for now, doing the opposite.
What gives? The answer reveals a crucial misconception about gold and why the precious metal is not always the inflation hedge many believe it to be.
Gold suffers from higher interest rates and earnings growth
