Inflation heats up and oil surges on Middle East tensions — load up on gold and oil ETFs to ride the wave
The government reported that inflation is heating up again, largely due to rising energy costs from the ongoing conflict in the Middle East. Meanwhile, the Treasury Department confirmed they are moving forward with plans to create a strategic Bitcoin reserve.
Idea
The latest government report confirms that inflation is rising again, mostly because the war in the Middle East is pushing oil prices up. Historically, when oil and inflation climb together, investors flock to gold as a safe haven to protect their money. Additionally, the U.S. Treasury just signaled they are moving forward with a plan to stockpile Bitcoin, which could provide a boost to the crypto market even after today's big crash. Buying gold, oil, and Bitcoin together is a bet on these inflation and geopolitical fears continuing.