Today the BLS (Bureau of Labor Statistics) released its CPI inflation report for March 2022. The report showed that inflation had risen to 8.5% when compared to the inflation level in March 2021.

Gold prices have been affected by three primary factors, inflation, the war in Ukraine, and lastly, statements and actions by the Federal Reserve.

As of 4:44 PM EDT gold futures basis, the most active June 2022 contract is trading up $11.70, a gain of 0.60% at $1949.50.