Fighting the Fed

Still on hospital duty for the next couple of days, so this post will be brief.

As we discussed yesterday, gold and the USD had reached a crossroads.  One had to win (break out), and the other lose (break down.)  It’s ironic that gold lost this particular battle, as the next CPI data we see will surprise to the upside.  Just another day in the Fun House the Fed built.

Gold traders and stackers are perfectly justified in crying “foul,” but it’s hardly the first time someone learned the hard way not to fight the Fed.

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