Macro insights on gold, Bitcoin, and tech

Gold is modestly mispriced when looking at its pricing through a macro lens, according to Huw Roberts from Quant Insight who joined us this afternoon to look at a range of assets from a macro perspective. In the view of Huw and his team, gold is working in its traditional use case as an inflation hedge, and it’s cheap at the moment. However Huw isn’t signalling a green light just yet, as we’re not in a full macro regime - but in his view, gold is definitely an asset to be watching at the moment. On the topic of Bitcoin, Huw tells us there was a period in time in the first half of last year during which the coin showed a positive sensitivity to inflation expectations, however the argument for Bitcoin being an inflation hedge is not panning out as well as many may have hoped in recent days. So what is Quant’s modelling saying about high-growth tech?