Last week, the price of gold shot up back above its 50-day and 200-day moving averages after breaking down midweek. The metal closed the week at $1,860.80 per ounce. After the Democrats suffered defeats in normally blue states like Virginia, their leaders in Congress doubled their efforts to pass a large infrastructure bill and even larger social safety net and climate package. The costs for the social safety net and climate package have not been scored by the Congressional Budget Office (though, budget analysts have assessed the costs of the infrastructure bill ). This has some seeing the possibility of hyperinflation in the U.S. As the world saw in Venezuela, hyperinflation can have devastating effects on a country. Gold has historically been a hedge against inflation. Rick Andrews is president of Avant Capital Management.