In retrospect, the gold market has held up better than we anticipated following the major reversal action last week.

While gold spent nearly the entire Monday trade in positive territory, it forged a much tighter trading range relative to the action last week, perhaps because the trade is looking ahead to the uncertainty of the US CPI report on Wednesday morning.

However, a portion of the trade sees the US CPI report as potentially supportive of the idea that consumer #inflation will remain elevated...[MORE]

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