Everyone head for the bunkers. Pull down the metal shutters. The core CPI rose 0.3% in April, (although many would say it’s closer to 0.2% or even 0.1%).
Gold prices ended up Friday, just a few dollars off their weekly low, but managed to hold on to the $1,200 an ounce level as a stronger U.S. dollar and low liquidity in the marketplace created some week-end selling pressure, Friday.
Friday morning’s stronger than expected core inflation data helped drag down gold as talk of a possible July rate hike entered the marketplace.