Inflation continues to grind higher despite assurances from the Fed that it remains transitory. Even the core PCE, a measure that strips out assets susceptible to price spikes/swings, is steadily rising over time. Gold is considered to be a hedge against inflation therefore, rising inflation expectations tend to prop us gold prices. US 10 year yields started the week slightly lower but more interestingly, the appearance of a rising wedge formation and a possible break below the wedge, may result in lower US yields in the short to medium term despite increasing pressure on the Fed to tighten monetary policy and ... (full story)