Gold is trading at $4,193 this Monday — recovering from last week’s $4,150 low. The US and Iran agreed on a 60-day peace roadmap in Switzerland, sending oil roughly 2% lower. Silver is at $66.05, outperforming gold today after last week’s 4.5% drop. But the biggest story this week isn’t Iran. It’s a three-letter acronym arriving Thursday morning: PCE. {chart} What Is PCE Inflation — and Why Does the Fed Use It Instead of CPI? Most investors follow CPI — the Consumer Price Index. It’s the number that makes headlines. However, the Federal Reserve operates on a different measure: the Personal Consumption Expenditures ... (full story)