June 11, 2021

Gold is down $18.50, trading at $1,876.00 and dipping to its lowest level in a week, even as yesterday’s CPI data showed inflation reached a 13-year high, rising 5% YOY since last May. Bond yields ticked up on the inflation data, explaining some of gold’s decline and silver is performing better, remaining above the $28.00 threshold. Stocks are relatively flat, mostly ignoring CPI data with the S&P 500 flat, the Dow down 45 points, and the Nasdaq up 0.15% heading into the final half hour of trading.