Amid all the speculation around inflation, last night the rubber hit the road with the release of the latest official US CPI figures. In the context of the US Fed seeking an ‘average’ sustainable 2% inflation rate, the CPI print came in at a blistering hot 4.2% sending shockwaves through markets. We look at this in the context of gold’s decline since last August to the bottom in March and where to from here.
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