Tell me if you think this is true??
Cars, houses, clothes, etc. can all go higher and people accept this as normal
You may not own gold, but gold is in the headlines and most people pay attention to headlines. Thus, because gold is moving much higher, most people's expectation is much higher inflationary prices than normal
Maybe the people you hang out with know that gold is going up, but the people in my area have no idea that gold is going up and most do not know that there is a correlation between gold and inflation. Most people are flat out stupid.
inflation comes in waves. it topped out around (roughly) 1920, 1950, 1980, 2011, and i expect it will top out again in 2040. i think you will see a big run in commodities from 2030 to 2040.
gold is not surging currently because we have high inflation currently. there is some inflation in some areas, but you notice that copper and oil are still below their highs of 2008, and 2011, etc.
in 1999 we had inflation in the stock market, but not in commodities.
from 2013 to 2019, we had inflation in the health related field (this is due mostly to obamacare), but we did not have inflation in gasoline prices. gasoline was no higher in 2019, than in 2013.
gold goes up because of negative interest rates. if inflation is 2.5%, but 10 yr bonds pay less than 1%, then gold goes up.
in germany, bonds pay 0%, but inflation is 2%... so you put money in gold, not bonds. in germany, you buy bonds only out of a sense of patriotism, but you realize that you will lose money. if you want to keep up with inflation, you buy gold.
all that money being printed right now, may not create a mass of inflation right now, but it will eventually.