Tomorrow the Labor Department will release its latest report on “headline” inflation. Headline inflation differs from core inflation in that it includes food and energy costs.

Economists, analysts, and market participants are laser-focused on the Labor Department’s CPI (Consumer Price Index) report for June which will be released on Wednesday, July 13.

Although trading this week was limited to four trading days due to a holiday weekend gold had a deep and severe price decline. Gold lost approximately $74 in trading this week opening at approximately $1814 on Tuesday and settling at $1741 today.