On Thursday, November 11 at 8:30 EDT, the BLS (Bureau of Labor Statistics) will release the latest inflation report vis-à-vis the CPI index for October 2022.

There is a proverb about the weather in the northern hemisphere as each year winter transitions into spring. The proverb says that “March comes in like a lion and goes out like a lamb”.

Nov 3 2022

Gary Wagner, Editor of TheGoldForecast.com, explains how markets reacted to the Federal Reserve's rate hike decision on Wednesday, and discusses his outlook for gold with David Lin, Anchor for Kitco News.

Powell is singularly focused on inflation reduction, disregarding fallout from his strong steps

With the November FOMC meeting concluding tomorrow many analysts and news sources are reporting the possibility that the Federal Reserve will announce or at least give subtle hints that they might begin to scale down their aggressive stance on interest rate hikes.

PCE Still High Despite Rate Hikes

The last day of October is ripe with terrifying news, and it has nothing to do with Halloween.

This morning the BLS (Bureau of Labor Statistics) released the latest inflation report vis-à-vis the PCE index for September 2022. The report revealed what Americans already know, that the cost of goods and services remains exceedingly.

Tomorrow at 8:30 EDT, the BLS (Bureau of Labor Statistics) will release the latest inflation report vis-à-vis the PCE index for September 2022. This will be the most recent data that the Federal Reserve will have on inflation and therefore be a key component to their sealing the fate of the size of the next rate hike at next week’s FOMC meeting.

Golf futures basis the most active December 2022 Comex contract is currently up $11.20 and fixed at $1669.70. Noteworthy was today’s intraday high of $1679.40 which came in just below the first level of resistance at $1680. However, once again we can see that while gold’s gains are respectable, they are based entirely upon dollar weakness.

One might think that with the increased geopolitical uncertainty and recent dollar weakness that gold would have strong gains. However, that is absolutely not true in trading today. As of 5:15 PM EDT, the most active December contract of gold futures is currently up only $3.30 or +0.20% and fixed at $1657.40.