On Monday June 19th is a national holiday, the stock market is closed, and in the stock indices you have a triple witching taking place in a bunch of markets. Just beware. It's going to be a wild day.
It is still pretty early in the daily cycle (#13 today) and they generally run 35-50 days for gold, but I think this one will be a little shorter. This is your opportunity to get onboard!
We are not in a real pause! We maybe alternating rate hikes between meetings. The Fed said that core inflation is not falling sharply. Gold's trend is down, the gold price failed..
Yesterday was the big CPI report. We have a two-step dance here. Left foot in -- that's the CPI -- right foot out, that's gonna be the big boy, that's gonna be the FOMC -- what they do. Then the hop skitch in the center is gonna be the PPI.
Today's CPI report is like getting a big FOMC report. It's either going to give validity to the idea that the Fed is going to skip -- they won't pause -- the new word is skip: to stop and take a look at the things around them.
To refresh your memory, the red line is the Fed’s 2% inflation target to be achieved by effectively strangling the economy via interest rate increases. Are we there yet? No.
This is going to be a huge week for gold between the CPI numbers and the Fed decision. Pause, Skip, Hike: it's one of the three that the Fed are going to do.
