There was another hotter than expected CPI report yesterday, which normally would have sent gold and silver prices lower. As any inflationary readings would suggest the Federal Reserve would be less likely to lower interest rates sooner rather than later.
But while the metals did trade lower initially, they once again roared back and at one point were even higher than before the report came out. There was a lot of volatility throughout the session, and the metals did come down a bit. But similar to what we saw on Friday when the labor report was higher than expected, this is another significant divergence in the precious metals trading.
It was a fascinating day, and in today’s show, Vince Lanci explains what happened and what it means. He also takes a closer look at the relationship between gold and bitcoin, and talks about his updated thoughts on the gold to silver ratio as well.
So to get a head start on the trading day, click to watch the video now!
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