Recent statements by the more hawkish faction of the Federal Reserve have raised genuine concerns that the current monetary policy to reduce inflation is about to undergo an unwelcome change.

Today the U.S. Bureau of Labor Statistics (BLS) released the PPI index report for January 2023.

Gold continues to trade under pressure moving to lower prices after yesterday’s CPI report for January indicated that inflation declined to 6.4% year-over-year. January’s CPI report came in lower by 6.4% year-over-year, than the prior month of December.