At the center of a contracting GDP which is putting tremendous stress on the American economy is the Federal Reserve’s mission statement of taking inflation down to 2%.

Today the US Labor Department released the Consumer Price Index for April. The report revealed that the CPI rose 0.4% in April, matching estimates from economists polled by the Wall Street Journal.

Gold pricing has been rising ever since last Friday’s strong jobs report resulted in prices plunging $34 from its open to the close. Last Thursday gold futures traded to an intraday high of $2085.