RE:☆☆☆☆ GOLD BREAKS OUT TOMORROW ☆☆☆☆It'll probably be September IMO.
btw, some of you may not know this, but CPI back in the 70's included house price, which is no longer the case now. So the 5.4% inflation is really at least double that with house price inflation at some 23%. The bond yield pull back is not an indication that there will be no inflation (because we already have crazy inflation now), but rather that we will have little real economic growth. People are working longer hours and making less (especially with devaluation of the USD), in the old standard they would have been equvalent to being unemployed (i.e. one can work at a minimum wage full time job and still not afford rent plus basic living expenses). So what do you have? low growth, high inflation and presistent unemployment or eqivalent of that. That is the definition of stagflation and there is nothing the Fed (or anyone for that matter) can do to fix this now.
The recent inflation number is a revelation. Enter the real $GOLD bull market.