CNBC Pro

There's a 'better hedge' against rising inflation — and it's not gold, says fund manager

Gold bullion bars are pictured after being inspected and polished at the ABC Refinery in Sydney on August 5, 2020.
DAVID GRAY | AFP | Getty Images

Gold has become less attractive as a hedge against rising inflation as the U.S. Federal Reserve shows signs of becoming less tolerant of ultra-low interest rates, said a portfolio manager.