Generally, gold prices and inflation tend to have a positive correlation. In the simplest terms, this means that as inflation rises, gold prices also typically rise, as investors seek out the precious metal as a currency hedge. However, with inflation showing signs of cooling down right alongside the jobs market, the chances of a rate cut by the Federal Reserve have climbed. So, in an environment where inflation is cooling, does the yellow metal still perform well? The short answer is yes, as evidenced by this week’s new record closing high. Gold as an asset class performs well in low interest…