Although gold closed fractionally higher in New York today, as of 5:35 PM EST, gold futures basis the most active August 2021 Comex contract is trading down $3.70, currently fixed at $1890.70. The fact that gold is trading lower as we await tomorrow’s CPI (consumer price index) data is interesting. One would expect the current forecast expected to show an increase from last month’s numbers taking the annualized inflation rate close to 5% to be a bullish influence on gold pricing. However, based on current pricing, that is not the case. One possible explanation is that analysts, economists, and investors believe that ... (full story)