Although gold closed fractionally higher in New York today, as of 5:35 PM EST, gold futures basis the most active August 2021 Comex contract is trading down $3.70, currently fixed at $1890.70.

Gold futures opened at $1901.60 this morning; it is currently down $3.10 and trading at $1895.80. Unquestionably gold continues to remain the primary precious metal that is a hedge against inflation.

On Thursday, June 3, gold had a substantial price decline opening at $1910 and closing $37 lower, settling at approximately $1873 per ounce.