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Buy Dips in Gold and Copper Amid Sticky Inflation
The higher-for-longer narrative reentered capital markets after January revealed hotter-than-expected inflation. This strengthened the dollar, pushing metals like gold and copper lower, but opened the door for investors to buy the dip. The latest consumer price index (CPI) numbers “showed that U.S. inflation grew more than expected in January, giving credence to recent warnings from the Fed that sticky inflation will keep the bank from cutting interest rates,” as reported by Investing.com. As such, traders scaled back their bets on rate cuts in the months of May and June as a data-dependent Federal Reserve sought ... (full story)