Gold prices continued to fall last week, approaching a support level at $1,675.00 per ounce. Prices closed the week at $1,696.50 per ounce. The Senate passed the $1.9 trillion COVID relief bill last week, prompting concerns about rising inflation and the need to hedge against it. According to The Telegraph , billionaire hedge fund manager Bill Ackman sees increased inflation numbers showing up in the summer months, causing the Federal Reserve to respond with a surprise rise in interest rates: “Mr. Ackman said he had bought ‘instruments that pay off in a large way in the event of a surprising move in rates.’ … “‘We want to protect ourselves against huge market-moving events. We look to buy insurance against disaster.’” Adding gold to an investment portfolio can also help, as the precious metal remains a time-tested hedge against inflation. Rick Andrews is president of Avant Capital Management.