'Dramatic' re-pricing across all financial assets coming as the Fed moves away from its 2% inflation target to this - Larry McDonald

Gold prices could 'easily reach $2,500 this year' - Jeff Clark on precious metal breakout

Gold rallies as central banks prepare to cut, geopolitical risk rises, Chinese trade rebounds – FXStreet’s Monfort

"The gold market is holding onto solid ahead of the weekend as U.S. consumers worry about the health of the economy and stubbornly elevated inflation pressures.

Friday, the University of Michigan said the preliminary reading of its Consumer Sentiment Index fell to 67.4 from April’s reading of 77.2. The data was weaker than expected as consensus forecasts called for a reading of around 76.3.

Sentiment has dropped to a five-month low.

The gold market has seen renewed bullish momentum since Thursday’s disappointing weekly jobless claims numbers, which showed the U.S. labor market losing momentum. The precious metal has added to those gains ahead of the weekend.

June gold futures last traded at $2,379.60 an ounce,m up 1.68% on the day.

Along with the disappointing sentiment, the report also noted that consumers see inflation rising 3.5% by this time next year, up sharply from 3.2% reported last month.

According to some analysts, the latest consumer sentiment data puts the Federal Reserve in a difficult position. Lower optimism could weigh on consumption, which would support easing from the central bank; however, higher inflation expectations would support the current restrictive policy.
Greg Michalowski, Currency Analyst at Forexlive.com, said it was “A worrisome report in that inflation expectations rose while consumer sentiment moved lower.”

Clearly, the POG has reversed .... on bad news (???) Classic Inflation targets are unachievable without the "medicine" required "killing" a lot of people .... According to "Michael Pascoe: RBA needs more businesses to fail".
This is out of the control of the FED, as, in addition to soaring IOUSA debt and its cost (in interest), the world at large is no longer willing to accept unlimited US$ printing by the IOUSA to pay debts and buy other nations assets.
So, once again RED5 planets are aligning ever more as the merger nears completion. The merged entity is approaching a combined market cap of A$4 billion, which will consolidate its position in the ASX200, and various gold indexes, presumably at a much higher PE ratio than the previous low rating ... a lot of the rerate appears to have already happened, and its problematic how much further the SP can rise in the short term, but IMHO, a SP in the 50c+ is possible, all other factors remain neutral.