Yesterday inflationary fears stoked the fires of gold bulls taking the precious yellow metal above $1800 for the first time since the middle of September. Although rising inflationary concerns did not diminish, a robust U.S.

The Chairman of the Federal Reserve, Jerome Powell, and the Treasury Secretary of the United States, Janet Yellen, believe that current inflationary pressures are transitory based on pent-up demand, supply chain bottlenecks and labor shortages.

Today is the perfect example of how enhanced inflationary pressures and the reaction to higher inflation by the Federal Reserve create cross-currents that take gold higher as well as pressure pricing lower.