Gold futures slump as U.S. CPI jump fuels rate hike concerns. - CME Group
Gold futures slump as U.S. CPI jump fuels rate hike concerns. - CME Group
Source: CME Group
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DW NOTE
The Fed hiked to 3.90% a month ago and inflation is still running at 3.4%. Gold is falling because traders are pricing in further rate hikes that officials have already said won't work. Meanwhile oil jumped 8.76% last week on a closed Strait of Hormuz, which means the next CPI print will be worse, not better.