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Surging inflation has offered little support to gold prices. As the US CPI climbed to a 40-year high in July, gold prices tumbled 19% from their March all-time high — in defiance of expectations that the precious metal would begin to exercise its vaunted ‘hedging' function. What’s keeping the gold hedges in check? Presented by @cmegroup: https://www.cmegroup.com/openmarkets/... Subscribe to our YouTube channel: https://bit.ly/2TwO8Gm Subscribe to our newest channel Quicktake Explained: https://bit.ly/3iERrup Bloomberg Quicktake brings you live global news and original shows spanning business, technology, politics and culture. Make sense of the stories changing your business and your world. To watch complete coverage on Bloomberg Quicktake 24/7, visit http://www.bloomberg.com/qt/live, or watch on Apple TV, Roku, Samsung Smart TV, Fire TV and Android TV on the Bloomberg app. Have a story to tell? Fill out this survey for a chance to have it featured on Bloomberg Quicktake: https://cor.us/surveys/27AF30 Connect with us on… YouTube: / bloomberg Breaking News on YouTube: / bloombergquicktakenews Twitter: / quicktake Facebook: / quicktake Instagram: / quicktake