Even though April gold posted a solid gain in Wednesday's trade, further confirmation of residual/sticky US inflation today could unleash an additional and perhaps more aggressive long liquidation washout.
Fortunately for the bull camp, the US dollar has not rallied on stubborn signs of sticky US inflation and declining US rate cut hopes, but that could change if Tuesday's inflation concern is reconfirmed by today's inflation news.
It should also be noted that Bitcoin posted new all-time highs again and, most gold mining shares showed significant gains yesterday with Newmont and Barrick up 1.7%, Harmony gold up 3.6% and Sibanye Stillwater up 6.7%...[MORE]
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