US CPI was higher than expected i.e. 8.6% y-o-y for May against expected 8.3%. DXY jumped and yet gold price surged. Any remaining thought of inflation as being transitory is now totally blown off. Hence will gold price starts to rise? Higher probability that it will and even higher if it moves beyond the upper boundary of the regression trend.
Hope the above will brighten the mood of everyone! Have a good weekend.
Cheers.
DCN Price at posting:
17.0¢ Sentiment: Buy Disclosure: Held
