Gold continues to search for direction following a sharp correction since January, with recent price action increasingly reflecting the market's struggle to determine whether inflation or slowing economic growth, combined with a returning focus on fiscal debt concerns and currency debasement, will become the dominant macro theme during the second half of the year. Following a softer-than-expected US CPI report, bullion rallied almost USD 100 to briefly reclaim the USD 4,100 level as traders sharply reduced expectations for near-term Federal Reserve tightening. However, the move quickly faded as renewed gains in crude ... (full story)