Spot gold extends gains after U.S. CPI data, last up more than 2% to $4,088 an ounce - CNBC
Spot gold extends gains after U.S. CPI data, last up more than 2% to $4,088 an ounce - CNBC
Source: CNBC
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DW NOTE
Gold rose 2% to $4,088 an ounce after the CPI print — a counterintuitive move given that hotter inflation typically means higher real rates and weaker bullion. The rally reflects what traders now understand: US inflation at 4.1% annual with a $2 trillion deficit isn't a problem the Fed can solve by holding rates steady. It's a problem that requires either fiscal discipline Washington won't deliver or currency debasement it will.