Gold just took a nosedive, losing $20 in a blink right after the U.S. dropped its latest inflation stats, which were hotter than everyone thought. March saw a 0.4% jump instead of the 0.3% everyone was betting on. This puts the Fed in a bit of a bind, trying to steer the monetary policy ship without tipping it over.
With inflation pushing a 12-month rise to 3.5%, it's clear it's sticking around, possibly keeping the Fed from slashing rates anytime soon to keep the U.S. economy on its feet amidst global economic headwinds.
Before this, bets were on the Fed sitting tight on rates in May, with a flip of the coin chance for a hike by June 12. So, with the dollar getting a boost from yesterday’s news, gold took a hit.
With inflation pushing a 12-month rise to 3.5%, it's clear it's sticking around, possibly keeping the Fed from slashing rates anytime soon to keep the U.S. economy on its feet amidst global economic headwinds.
Before this, bets were on the Fed sitting tight on rates in May, with a flip of the coin chance for a hike by June 12. So, with the dollar getting a boost from yesterday’s news, gold took a hit.
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