Gold As Portent For Commodity Complex

In "Gold, Commodities and Deflation," the "Calafia Beach Pundit" looks at the disparity between the performance of gold and other commodities and concludes that gold is forecasting an inflationary advance that will push other commodities up too. He notes that, over the longer term, gold has tended to lead a basket of commodities instead of tracking it.

He also says that the risk of deflation is virtually zero.