While the magnitude of yesterday's US CPI upside surprise was not significant, the markets were clearly undermined by another US data point which appears to push back US rate cut timing.

 

Today the markets will have a pause from US inflation news with several Fed speeches potentially providing some fireworks.

 

However, the US dollar is sitting right on the spike-up highs from yesterday early today leaving the currency influence on gold and silver bearish...[MORE]

 

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