Smoking Hot Inflation Data Sends The Entire Market Into Chaos, Gold, Crypto, And The Dollar Pump
The soaring US CPI (at 40 year highs) looked like the straw that broke the back of the 'transitory' narrative. Visit our sponsor http://stjamesgold.com OTCQB: LRDJF TSX-V: LORD FSE: BVU3
The ugly CPI print prompted a serious reaction across all asset classes in the pre-market:
Stocks tumbled
VIX jumped
Crypto spiked
Gold spiked
TSY Yields spiked (except the 30Y)
The yield Curve flattened dramatically
Dollar spiked
Gold receded slightly but made the new 2021 high in price.
U.S. gold futures rose 1.1% to $1,851.40.
"Once again we have hot inflationary data," said David Meger, director of metals trading at High Ridge Futures. "With gold being the quintessential hedge against inflation, we believe inflation is the underlying positive environment that will foster the gold market rally in the weeks and months ahead."
some big announcements were made at our sponsor St James Gold and this mining company is way under the radar considering one of their main projects is adjacent to Newfound Gold's recent discovery that brought them from the same position to 900% gains and a billion+ market cap
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