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(Kitco News) – The U.S. Consumer Price Index (CPI) rose 0.9% in June, after a 0.6% rise in May. Year-on-year, headline inflation is now at 5.4%.
Will Rhind, CEO of GraniteShares, said that gold, being an inflation hedge, can continue to rise if inflation does not cool off later this year.
“I think if we start to see inflation numbers high or elevated after the summer, when everybody gets back from vacations, September time, I think we can easily see [$2,000 gold] before the end of the year,” Rhind told David Lin, anchor for Kitco News.
On what constitutes an inflation hedge, Rhind said that an asset needs to outperform others during periods of high inflation. By that definition, equities don’t qualify as an inflation hedge, he said.
“Right now, equities are rallying because the market doesn’t believe there’s an inflation problem. What happens to equities in an inflationary environment is that there comes a point where companies cannot pass on those inflationary costs,” he said.
For more information on other assets that qualify as inflation hedges, watch the video above. Follow David Lin on Twitter: @davidlin_TV.
Key COVID-19 numbers in the Ottawa area today – CBC.ca
- Ottawa reports three more COVID-19 cases Tuesday.
- No local health authority reports a COVID-19 hospital patient.
- A new outbreak makes up most new cases in the Belleville area.
Today’s Ottawa update
Ottawa Public Health (OPH) reported three more COVID-19 cases Tuesday and no new deaths. It removed two cases from its total, as it’s been doing from time to time as it double-checks its database (often due to residents living in other regions).
There are 42 known active cases in the capital.
Its medical officer of health said last week getting vaccinated and following familiar rules such as masking and distancing can stop COVID-19 from taking hold again.
Numbers to watch
4: The weekly incidence rate, a rolling seven-day total of new COVID-19 cases expressed per 100,000 residents.
0: The number of Ottawa residents being treated for COVID-19 in an Ottawa hospital.
0: The number of COVID-19 patients reported by each of the Ottawa-Gatineau area’s seven health authorities as of noon ET Tuesday. Two of them have yet to report their long weekend numbers.
1.16: The number of people infected by a single COVID-19 case, or R(t). A number under one is a sign the spread is slowing.
0: The number of active COVID-19 outbreaks in Ottawa.
Across the region
There are currently fewer than 100 known active cases in eastern Ontario and western Quebec.
Most local health units are generally reporting an average of a new case or two per day and, in eastern Ontario, have met the province’s fully vaccinated threshold for the next reopening step.
Hastings Prince Edward Public Health reported eight more cases Tuesday in its first update since Friday, six of them linked to an outbreak in Frankford, north of Trenton.
The health unit for the Renfrew County area reported six more cases over the long weekend and in the Kingston area, four more cases.
Ontario is currently under Step 3 of the province’s pandemic reopening plan. All of Quebec is under green zone rules.
Blizzard's President Brack Steps Down – Dark Horizons
J. Allen Brack, president of “Warcraft” and “Overwatch” creator Blizzard Entertainment, is leaving the company “to pursue new opportunities”.
Brack’s exit comes less than two weeks after Activision Blizzard was sued by the California Department of Fair Employment and Housing over the company’s alleged “pervasive frat boy workplace culture.”
In recent days, multiple horrific stories have emerged in the press of explosive allegations by employees who claimed to have been continuously subjected to sexual harassment, psychological harassment and discrimination within the company. A large crowd of more than a thousand employees rallied outside the company’s campus this past week, the incident making headline news around the world.
Brack was named in the lawsuit as being among the company executives who were allegedly aware of the systemic misconduct.
EVP of development Jen Oneal and EVP of platform and technology Mike Ybarra have now been appointed co-leaders of Blizzard. Oneal joined Blizzard in January, Ybarra came onboard from XBOX in 2019. Both have more than three decades of gaming industry experience between them.
A short statement released by the company’s COO Daniel Alegre says: “Both leaders are deeply committed to all of our employees; to the work ahead to ensure Blizzard is the safest, most welcoming workplace possible for women, and people of any gender, ethnicity, sexual orientation, or background; to upholding and reinforcing our values; and to rebuilding your trust.”
Ontario reports single new COVID-19 case in Ottawa Tuesday – CTV Edmonton
Public Health Ontario is reporting a single new case of COVID-19 in Ottawa Tuesday.
A full, local snapshot from Ottawa Public Health is due this afternoon. Daily case counts from OPH often differ from those provided by Public Health Ontario because the two health agencies pull data for their respective daily snapshot reports at different times of the day.
Across the province, Public Health Ontario added 164 new infections on Tuesday and said one more Ontarian had died due to COVID-19. Another 151 cases are now considered resolved.
There was no formal update on the holiday Monday, but the province released the figures Tuesday, reporting an additional 168 new cases and another new death.
Across eastern Ontario, provincial health officials added five additional cases in the last two days.
COVID-19 VACCINES IN OTTAWA
Ottawa Public Health updates vaccine numbers on Mondays, Wednesdays and Fridays. As of Monday:
- Ottawa residents with 1 dose (12+): 767,352
- Ottawa residents with 2 doses (12+): 661,965
- Share of population 12 and older with at least one dose: 83 per cent
- Share of population 12 and older fully vaccinated: 72 per cent
- Total doses received in Ottawa*: 1,333,790
**Total doses received does not include doses shipped to pharmacies and primary care clinics, but statistics on Ottawa residents with one or two doses includes anyone with an Ottawa postal code who was vaccinated anywhere in Ontario.
CASES OF COVID-19 AROUND THE REGION
- Eastern Ontario Health Unit: One new case Monday, zero new cases Tuesday
- Hastings Prince Edward Public Health: Zero new cases Monday, two new cases Tuesday
- Kingston, Frontenac, Lennox & Addington Public Health: One new case Monday, zero new cases Tuesday
- Leeds, Grenville & Lanark District Health Unit: Zero new cases Monday, one new case Tuesday
- Renfrew County and District Health Unit: Zero new cases Monday and Tuesday
This story will be updated. CTV News Ottawa will have the latest as it becomes available.
Vaccinated? You’re 10x less likely to catch and transmit COVID-19, but risk remains – Boundary Creek Times
Nikkei: Google Tensor is a 5nm chip and Samsung is handling production – 9to5Google
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