While Inflation Refuses to Go Away, Gold Refuses to Go Up, by Arkadiusz Sieroń
The recent Consumer Price Index (CPI) report shows that inflation remains high. It implies a hawkish Fed and bearish gold. To paraphrase a famous Pink Floyd song, I wish you weren’t here, inflation! The CPI increased 0.4% in September, after rising 0.1% in August, according to the Bureau of Labor Statistics. The move was slightly higher than expected and occurred despite a 2.1% decline in the energy index. What’s really bad, especially for the poorest households, is that food prices continued to rise. The food index rose 0.8% for the month, the same as August, and was up 11.2% from …