Gold is not the best inflation hedge, these assets are better - Adrian Day

Markets seem to still believe the Federal Reserve’s narrative of transitory inflation, but that narrative is not reflective of reality, said Adrian Day, president of Adrian Day Asset Management.
“The market simply doesn’t believe the inflation story, and they seem to believe what the Fed is saying about it being transitory. To me, obviously there are reasons to think that some of the recent jumps we’ve had in certain prices are temporary, but if prices in aggregate go up, then that’s a reflection of inflation, and it seems to me we definitely have inflation,” Day told David Lin, anchor for Kitco News.
This is his guide to beating inflation.
0:00 - Inflation
6:46 - Gold's performance
9:50 - Fed tapering
12:05 - The best inflation hedges
18:17 - Major risks for investors
21:00 - Hedge against high valuations
24:44 - Top stock picks
26:20 - Cryptocurrencies
__________________________________________________________________
Kitco News is the world’s #1 source of metals market information. Our videos feature interviews with prominent industry figures to bring you market-affecting insights, with the goal of helping people make informed investment decisions.
Subscribe to our channel to stay up to date on the latest insights moving the metals markets.
For more breaking news, visit www.kitco.com/
Follow us on social media:
Facebook - KitcoNews/?r...
Twitter - / kitconewsnow
StockTwits - stocktwits.com/kitconews
Live gold price and charts: www.kitco.com/gold-price-today...
Live silver price and charts: www.kitco.com/silver-price-tod...
Don’t forget to sign up for Kitco News’ Weekly Roundup - comes out every Friday to recap the hottest stories & videos of the week: connect.kitco.com/subscriptio...
Join the conversation @ The Kitco Forums and be part of the premier online community for precious metals investors: gold-forum.kitco.com/
Disclaimer: Videos are not trading advice and the views expressed may not reflect those of Kitco Metals Inc.

[@biglance]

David Lin is a GREAT interviewer. He let's people talk, does not have an agenda and is respectful. This young man is an ASSET, hope Kitco News is paying him enough BTC or Gold :) peace.

[@mohammedsharif2651]

totally agree

[@johndrumheller2969]

I couldn’t agree more. I just was watching a segment with he and Gareth Soloway and my takeaway was that he is intelligent, insightful, and has a good sense of humor. Additionally he isn’t afraid to call out those who continue to modify their predictions to fit current conditions. He is aware that these segments become a bit of an “echo chamber” and wants to make sure his segments don’t become that.

[@tejay387]

Another example of David letting the guest talk... thanks for the insight

[@fillmorehillmore8239]

Sign of a great host is letting others speak and sometimes ramble. Love hearing how other people's thought processes work into a tic tac toe.

[@sazajac77z]

Yep David is one of the best.

[@MrMatisse22]

A sober and balanced view of the market. When the guest does most of the talking, it's usually a good interview with something to learn.

[@michaelbosco1070]

...... the real reason for inflation is the fact that they have created trillions of new dollars and injured them into our economy! Too many dollar’s chances

[@michaelbosco1070]

Injected them into the economy, too many dollars chasing the same amount of goods equall inflation!

[@montucenturia3051]

One of the best interviews I’ve ever seen on Kitco. It really does make such a difference to have the interview in person.

[@MartinJG100]

It also makes a big difference to have an interviewer who asks intelligent questions and then lets the interviewee answer the question. When will the majority of the media industry realise we are not interested in what they have to say.

[@hzj7920]

Good observation.

[@robertgreen2221]

@@MartinJG100 jjjp

[@p.c.h.6721]

This guy is very good at explaining things as they really are, wish everyone was this way without trying to manipulate people, which is the norm nowadays. David, excellent job 👍

[@mutantryeff]

The Federal Reserve's devaluation of the Fiat Federal Reserve Note is a form of taxation without representation

[@drmodestoesq]

You vote for the people who appoint the head, or heads of the Federal Reserve.

[@dragon.fromindia3235]

GOLD PRICE SHOULD RISE TO 1900$/oz.

[@westcoaststacker569]

Multiplied many times by the additional Capital Gains, Sales and Income taxes they will collect off of the inflated assets.

[@neilbarnard735]

@@dragon.fromindia3235 nice thought. But unlikely.

[@michaelenright1089]

Who wears a hat inside,Inflation is only temprorary because it is mainly caused by covid supply.Out of control inflation. Saving having all your eggs in one basket is bad news thats poor saving.

[@ravensrolltop]

I very much enjoyed Adrian’s common sense approach. Watching too many extreme call to action videos can really burn me out. You can tell he’s seen it all before and is very patient, because that’s really all you can be if you want to stay balanced.

[@thinkmackay8954]

David is always the best host.

[@vernondecker9532]

Yes hands down the best.

[@dassa0069]

Despite his diminutive stature David is an intellectual heavyweight.

[@shanshui23]

Yup. Brilliant in leading the conversation with his questions

[@RobertoLopez-nn8ty]

I love David (but not in a Gay way).

[@dragon.fromindia3235]

GOLD PRICE SHOULD RISE TO 1900$/oz.

[@daniellbatten3863]

David is such a talented interviewer and his ability to play both sides of an argument is incredible. Also, this quest is also an amazing pick!

[@maximumliberty]

Quest?

[@RobertoLopez-nn8ty]

Just remember Peoples, that Gold is not an “Investment.” Gold is MONEY. Everything else is just Credit. And Gold has always held its purchasing power over time. All Fiat Currencies have an average Life-Span of 37 years (some less, some a little longer. Whenever you are under a Fiat Currency System you should always be stacking Gold and Silver and preparing for the inevitable collapse of that Fiat Crap. In a Fiat Currency System it is just a Waiting Game.

[@tjprosper7704]

How will you trade gold for goods?

[@bahmak2003]

Lol who uses gold as money today? 😂😂😂 Gold is not even a legal tender, but bitcoin is!

[@RobertoLopez-nn8ty]

@@bahmak2003 …. Gee, I wonder why Central Banks and governments throughout the World Hoard so much Gold……. Because it’s MONEY.. It has been Money for five thousand years. Bitcoin is Fools gold. Bitcoin is make-believe-money. Gold is Real Money.

[@matthewbyrns1032]

@@bahmak2003 Yeah, where, and good luck in a blackout, i, will take all the gold you don't want 😉

[@matthewbyrns1032]

@@RobertoLopez-nn8ty Finally, a brain, correct, Bitcoin CRAPTO, Ponzi,

[@oneordinarycitizen]

They used to say that we needed inflation to keep up with population growth which was around 2% then. Now population growth is 0.5% and we have extremely high inflation. What lie will they tell now?

[@ren7sp25]

Could listen to him for hours! Great interview

[@johnellacott878]

I'd never heard of Adrian before today. Now I won't forget him thanks to his hat. Good presentation and interview from both of them.

[@yourplumbingpal1225]

I have heard the name Adrian Day soooo often on Peter Schiff and this is the first time I have seen or heard from him, thank you all I really enjoyed his views and information. It is amazing how imprtant it is to have the views of those who have been there and seen it. You can really see at times like this where so many cultures respct for elders comes from . A lot of the great historical info. comes from our elders.

[@bharatsangam2200]

Atleast somebody is talking sense and trying to cheat people .

[@bharatsangam2200]

Sorry not trying to cheat people .

[@catalinarothenberg5708]

Very important indeed!!!

[@sksurfer8757]

Finally an asset manager who is not overly selling but genuinely sharing knnowledge. Well done, great interview.

[@quantumindicesfuturestrade6873]

He's English sensibly reserved and understated

[@cesardrudi8238]

Nice guest! Facts and no hype.

[@BakedKipling]

Great content as always David, todays guest was very insightful

[@wettydolphin]

I've heard so many interviews and this one is very very well done. I really like this video.

[@nickh2379]

Wow, just learned from this video that equity(ies) in businesses is a form of hard asset. Thanks to David and Kitco News for the great interviews!

[@steverosenberg745]

That's not always the case. If it's not dealing in, with or inextricably linked in someway to a hard asset then it isn't. A advisory firm for instance is one such example.

[@pauldichtel6410]

The late Larry Edelson said the DOW was a good devaluation hedge.

[@dragon.fromindia3235]

GOLD PRICE SHOULD RISE TO 1900$/oz.

[@klauskarpfen9039]

I imagine Adrian with his hat in his garden, a shovel in his hand, planting onions, turnips, tomatoes... .

[@mygoogle1594]

> "Starling." ... < "I do wish we could chat longer, but.. I'm having an old friend for dinner.. Byyeee.." ...

[@jimtheophilou9872]

He's watching cricket on the village green with picnicbox with pate, cheese and crackers and decent glass of red in hand

[@deserttropics6780]

I pictured him more as being out in the middle of nowhere in some foreign country visiting a remote gold exploration site. Using his hat to swat at malaria ridden mosquitoes.

[@wayneanderson8034]

Don't forget rhubarb, it is nutritious & easy to grow.

[@tzbabu]

A man who can wear whatever hat he pleases. Respect.

[@EPLrealty]

Great interview, great questions, great guest. Thank you

[@benheyward9057]

great interview one of the best hosts iv seen on in over a year, very down to earth and informative on the whole market not just 1 asset, david get more like Adrian

[@jasoncupp1514]

You get the best information from men with interesting hats.

[@kingsboy1828]

great interview. kudos!

[@richardlouro5603]

very interesting. Loved the interview

[@jeanieygh]

Yessssss Adrian Day....thkq sooo much for your invaluable insights. Cool hat😎

[@Nordien1978]

Great guest and good interview - Adrian Day has great insights.

[@mobysnick3841]

His view on crypto is very narrow and conservative though

[@dragon.fromindia3235]

GOLD PRICE SHOULD RISE TO 19000$/oz.

[@ravenassociateslawyers3807]

@@mobysnick3841 but could be correct!

[@mobysnick3841]

@@ravenassociateslawyers3807 He could be, but ignoring the importance of cutting out the middle man (banks, money transfer companies) is at best ignorant.

[@tomjones9490]

Honest and informative. Really enjoyed that. Thank you.

[@ClairesChaine]

So nobody's going to comment on Adrian's hat??? Great interview nonetheless, great interviewer!!!

[@ravenassociateslawyers3807]

Terrific interview. Thanks David.

[@stlouisix3]

Silver, copper, miners, personal businesses and quality-fundamentals & value-based equities (mostly in poorer countries that have high levels of growth in Asia)- All good inflation hedges for the up-coming collapse👍 Brilliant interview, Adrian Day & Dave🧠

[@rwdchannel2901]

Food prices have rise 50% in the last year. Gold went down from the $1800 an ounce range to $1600 an ounce range. If gold was a hedge against inflation shouldn't it be around $2600 an ounce right now?

[@juanpablolozano820]

Una extraordinaria entrevista!

[@michaelorr8512]

The most talented interviewer…thank you

[@ryanbattistoni9775]

Awesome interview!

[@df2403]

One of the best interviews! Thanks

[@MonkeySpecs301]

was the 40% pump in gold really "exuberance" tho? or was it already under valued since its fair price is suppressed?

[@Zerpentsa6598]

Gold is still best.

[@rwdchannel2901]

Gold today is $1692 an ounce. A few years ago it was $1800 an ounce. We've had 50% inflation in food alone in the last year. Gold isn't a hedge against inflation.

[@silver-en7kl]

No matter how much kitco hates on gold and silver, they will shine forever, they’ve always been real money and they always will be real money.

[@patrickmurphy8222]

I can't hold crypto in my hand.

[@eagleone8269]

Kitco is Bitcoin propaganda now

[@SuperSte32]

You can’t have a channel that doesn’t cover different options. I’m on the side of gold 100% but I welcome opinions that have the opposite view of mine.

[@patrickmurphy8222]

@@Ruth-wu3vf Actually yes I can hold it in my hand.

[@welditful]

A very sensible guest.

[@ssoffshore5111]

Great guest, I appreciate his years of experience and insight...

[@TheFox808]

Outstanding interview thanks

[@pmh1nic]

I really enjoyed this interview. David is his usual self, an excellent interviewer and this gentleman doesn't come off as a salesman but shares information and gives an informed opinion on how that information should shape your investment strategy.

[@tafaofamily4819]

Alot of great info! Thank you!

[@map2004]

Great to see you out and about outside of Canada, David. Excellent job thus far at the summit. How about interviewing current CEO's and the state of affairs in their sector?

[@eatAD]

“Unfortunately sometimes when you’re a gold investor, all types of bad things are good for your investment”

[@garyneudorf3741]

This guy is worth listening to.

[@MacksCurley]

Now there is the problem, GLD derivatives drives the spot Gold price NOT supply and demand.

[@codycast]

That’s the same with copper, silver, soybeans etc. I’m a gold fan but stop making excuses like there is a cabal keeping the price low because (there is never a good ‘because’)

[@westcoaststacker569]

It is so cool that we can purchase physical for a small markup over the derivative price and that the miners are making a fortune at that level.

[@rogerburn5132]

Exactly

[@mohammedsharif2651]

Excellent interview and valuable insights. Thank you Both. 😀👏👏👏👏

[@GHutube8]

Like you guest. Understandable. Makes sense... invite him again.

[@neilbarnard735]

Echo that but not really the Man to be talking bout Crypto. Too Old School.

[@neilbarnard735]

@@HaveMindWillThink Not a trader but so far so good👍

[@carlyellison8498]

That hat tho. That hat.

[@dragon.fromindia3235]

GOLD PRICE SHOULD RISE TO 1900$/oz.

[@vo8438]

Very nice common sense, in person, straight talk interview. Love it, thanks again!

[@mrtrapper93]

Been buying gold and silver for the last ten years, but it's physical and I hold it. 5 oz's of silver and 1/10th oz gold every month. buy and hold for a very serious hyper deflation or inflation event, it's not as an investment, it's a savings account in something other than worthless paper cash!

[@anona1443]

How do you store gold?

[@doc.fitness]

@@anona1443 and where do you store it? Location? And where do you live? Do you have a dog?

[@RealLifeFinance]

Exactly. Its boring really and has 20% price swings at times. But it beats the paper for sure. I have my first $20 bill I earned in 1974 and my first $100 bill I earned in 1984. Both would be worth multitudes more had I bought any metal.

[@ruipedrovilarinho5560]

Great interview

[@Legacytierstrategies]

The day these guys realize that the market does NOT believe inflation is "transitory" but, in fact, that the Fed has gone rogue and have chosen to default by complete reset through currency debasement, will be refreshing.

[@DarR1299]

Adrian was a treat to listen to. Down to earth realist comments and observations.

[@deltaforce3702]

Awesome interview 🤯

[@robertgould8099]

Thank you. Adrian Day was wonderfully informative and clear in his observations. No BS there!

[@CJMartial]

David just does an excellent job, one of the best out there

[@mr.bouncealot9047]

One of, if not, the best interview I've seen on this subject. A lot of crypto influencers need to hear this

[@mr.bouncealot9047]

...and he could afford taking a look into some valuable crypto projects (not currencies)

[@aucourant9998]

I love this guy. Very informative.

[@jorgeargudo3774]

If inflation is already at 10 percent and will not stop, the real rates are NEGATIVE 8 percent. Another policy fiasco, will take these markets to a 50% correction.

[@keepingitsimple88]

Gold is doing just fine

[@KBDRecords]

Yes it’s like a stable coin for over 10 years.

[@davebellamy4867]

1800 forever.😂

[@povarful]

Unfortunately , in the short term gold will drop to $1500 level and silver to $20 due to the strong dollar. If we will see ATH , it will be the next year.

[@KBDRecords]

@@povarful Peter Schiff? Is that you?

[@povarful]

@@KBDRecords lol.

[@vaskenderboghossian8061]

excellent insight by your guest

[@alexandermills382]

Down to earth brilliant advice, and spot on with the predictions on Netflix, FB, Zoom etc! Must put Nestle on my watchlist.

[@llk3763]

Great conversation!! So glad Iistened.

[@povarful]

With all my respect Sir! We are in hyperinflation now. The real inflation rate is at 14-16% . By the next year ,it will be 30%. Where do you think the safe haven? Maybe uranium!

[@marks1167]

you need 50% monthly inflation for hyperinflation, agree that inflation is high around 12% average excluding assets here in the UK, and going higher

[@RealLifeFinance]

Agreed....runaway inflation. Its been 10% plus for last few years

[@povarful]

@@RealLifeFinance they don't measure rent prices . Rent went up 14%. Total elimination of the middle class!

[@kieronbilton5595]

This is a Sharp Dude

[@prateeksharma1985]

Wonderful guest

[@SuperSte32]

I’m not being not shaken out by the volatility in the mining sector. Your only down when you sell at a loss.

[@daedalusjones3804]

David is the man. Kudos for how you run the show!

[@silver-en7kl]

He’s someone’s puppet, that’s for sure.

[@waynejohnson2500]

Excellent video.

[@eden821]

Wonderful talk, two gentlemen in possibly worlds best country!

[@alizaburn8134]

Interesting interview. Respectful host. Collar-sized cuffs…

[@jackgoldman1]

Gold and stocks? Dow was 19 ounces of gold in 1971 and 1,000 Fed points. Fifty years later, 2021, Dow is 19 ounces of gold and 34,000 Fed points. Gold has held its buying power. Fed debt dollar is artificially expanded 7% a year, losing 7% every year in buying power. We have inflated a debt bubble at 7% a year. This is big.

[@jeanieygh]

Going to be a good decade....if u r loaded with 💪good quality gold, silver and copper stocks

[@SH-uv6cp]

Only if you actually have the metal in your possession. Paper stocks are not yours. As Lynette Zang likes to say.. *IF YOU DONT HOLD IT, YOU DONT OWN IT*

[@albo8404]

Love the diversity of opinions of educated people that you bring in your show

[@Thiny1991]

Nice to hear positive comments on senior gold miners

[@Thiny1991]

Around 23:20 on Barrick gold and later on NEM, AGE …

[@alexandermills382]

Just see how much Barrick jumped last week…

[@junzhang2087]

A mix of tip commodity real estate equity precious metal energy materials are the hedge against inflation, gold is just part of it

[@philshyu5248]

Don't forget the companies that provide the stuff we need and are worried about inflation from... Electrical power utilities, gas, telecommunications (in modern society), food industry, etc.

[@dragon.fromindia3235]

GOLD PRICE SHOULD RISE TO 1900$/oz.

[@junzhang2087]

I use real asset fund combined with USA and international stock fund to hedge against inflation

[@miri9600]

Great debate.

[@smb7304]

Another awesome guest 👍

[@conservativemovement]

Excellent!

[@Horselackey]

The problem Is government.

[@ppumpkin3282]

I own LAND, an etf that invests in farmland and yields 2.4%. It pays while the asset increases. Same thing with most REITs. I am avoiding commercial and retail REITs and focus on high quality residential, health care, data center, and cell tower REITs. Don't know much about mortgage REITS. Things are physical will appreciate in an inflationary environment.

[@douglas.wang63]

I agree with your guest Adrian.

[@Martyz-TV]

I'm still distracted by the flower pot. I had to close my eyes and listen. 🙈🙉🙊

[@kqh123]

His hat game is on point

[@andy-ti9zf]

everybody keeps saying stocks and homes are good inflation hedges but they are expensive. How overpriced do they have to get before they are not a good inflation hedge? At some point you would think prices on those asset classes would correct.

[@SuperSte32]

Mining stocks are currently under valued.

[@deserttropics6780]

The reason they are rising so much as all this new currency is being created is evidence that they are inflation hedges.

[@doc.fitness]

No, because they keep printing money and buying them as assets. And the rich are buying all the land and homes to rule us.

[@RobertLinthicum]

My top inflation hedge at the moment is BTC and ETH. Can't make more of either.

[@youngone1985]

26:30 bitcoin has a strong network effect and that’s value. The US dollar is an international hedge against inflation because it’s a reserve currency. Bitcoin could capture that position the same way folks in Greece went into bitcoin in 2017 when they couldn’t get their money out of banks. That caused the 2017 bitcoin boom. The collapse of a US dollar may make bitcoin’s network effect explode into the new world's inflation hedge.

[@troyhisel2802]

May? Oh it WILL! The fiat crash coming with in a couple years! Only the devastation won’t last long because they already have the solution… digital wallets and digital $$$. They’ve been slowly getting us ready to pay digitally over time… Venmo, ApplePay, PayPal….. just getting us warmed up for crypto!!!!! Hold on tight it’s going to be a WILD RIDE!!!!!

[@youngone1985]

@@troyhisel2802 When western goverments stop bitcoin banking transactions China will announce that bitcoin can be converted into digital yuang in order to capture that network effect. Cryptocurrency was created for the rich to move their money out of Western markets into emerging economies without capital control problems from western governments.

[@Earth.Centric]

Sorry dumb question: what kind of ‘asset purchases’? @10:00

[@leekinboo]

this is really good

[@charlesbaha5298]

Buy stuff at the stores now

[@motokev2727]

The only thing I buy is food

[@wayneanderson8034]

@@motokev2727 maybe consider buying barter items that are cheap as food today but will be exorbitant in value after a collapse. Condoms, vitamins, hygeine products, medicine can be traded for the best food available.

[@giovannipantorno884]

Most of my companies are 10 pe or near at the price.. Makes me feel better that they haven't moved much but it's OK. Good interview

[@gregan1450]

Care to share

[@Sean-gj3ef]

How is it possible to know how transitory inflation is whilst there are supply chain issues? Restricted supply will surely push up prices and form a revised equilibrium price for items?

[@rogerburn5132]

Inflation can't be " transitory" when the Fed is printing Fiat currency (dollars) without end. Look at Venezuela "" transitory "" Hyperinflation.

[@jamies6534]

CPI increases aren't the inflation; they're the result of inflation, inflation of the money & credit supply. Important distinction.

[@sanpedrosilver]

Love Mr. Day but think he’s wrong about uranium. Takes a long time to get uranium on-line. The price will top out before a bunch of mines are able to supply the demand. Interesting times..

[@monmoon9249]

If you use the money supply as the denominator, asset prices are not at all time highs.

[@markcarlson9433]

I think the analyst totally overlooked the wild money printing going on globally. I wish David had brought it up.

[@lucapeter379]

Was thinking absolutely the same!

[@dragon.fromindia3235]

Why shouldn't gold price rise.and why crypto rising.

[@RealLifeFinance]

True

[@Italymich]

How do you spell the name of the book author at 6:00 ?

[@morongovalley940]

Most prefer English Holly, but Forsythia IMO, make the best hedges.

[@Shocojones1212]

Its hard to ignore such an impeccable hat

[@meadydoheny]

David from kitco keep dewing your thang babygirll

[@mr.eccles2736]

In these restless days of nonsenses let loose, the only videos I can stand watching for more than 5 minutes are cat videos, dog videos, and videos of sensible people like Adrian Day talk.

[@bonniegirl5138]

Very amusing comment with intuitional sense of underlying dread.