Last week, gold prices broke above their four-month high, closing the week at $1,904.50 per ounce. Meanwhile, the U.S. dollar index was pinned near its four-and-a-half-month low. While Federal Reserve officials continue to downplay any lasting danger from the “temporary” inflation numbers showing up in reports, others appear to have given up holding back prices. Economist Larry Lindsey, CEO of the Lindsey Group, told Fox Business in an interview last week, “There is no longer any resistance out there to higher prices. And the economists and central bankers have a phrase and that’s called ‘well-anchored’ inflation. And what anchors inflation is fear that if you raise prices, your competitor may not follow and then you lose market share. That is completely gone. There are no anchors holding this ship down. As costs go up, they’re going to be pushed on in the form of higher prices to consumers.” Investors may want to consider increasing their allocation to gold, which is a hedge against rising inflation. Rick Andrews is president of Avant Capital Management.