The underlying characteristic of gold pricing over the last 48 hours has been akin to a wild carnival ride. It began yesterday when ADP released its National Employment Report which concluded that private payrolls increased by 978,000 jobs last month.

Gold prices tumbled following the release of the ADP private sector’s jobs report which came in well above analysts’ expectations.

There is no doubt that the number one question on the mind of gold investors and traders is, “What is the current state of inflation in the United States?” They are pondering whether or not current rises in real costs of living are ‘transitory’ or ‘sticky’.