Gold Rebounds After Fainting Due to US Inflation Spike

From sunshineprofits.com

Gold recovered after a downward response to the surge in inflation. What’s next for the yellow metal? Gold rebounded after an initially bearish reaction to the BLS report showing that inflation soared 4.2% in April year-to-year. This means we have an inflation annual rate doubling the Fed’s target and the highest since the Great Recession as the chart below shows. It might now seem counterintuitive, but traders worried that the jump in the CPI would force the Fed to tighten its monetary policy earlier than anticipated. However, it seems that the US central bank managed to convince the markets that it would remain ... (full story)