RE:Gold up out of the gateYes, the U.S. Inflation number for October came in at 7.7%, down from 8.2% in September and the fourth decrease in a row since the 2022 high of 9.1% set in June.
Core Inflation for October was 6.3%, down from a 2022 high of 6.6% last month.
Thus the rally in gold stocks out of the gate today as investors are likely expecting the FED to reduce the size of interest rate increases going forward and perhaps come in at a lower terminal rate than anticipated, thus taking some wind out of the USD (the USD Index was down almost 2% today last time I checked).
The November US inflation number is scheduled to be released December 13, one day before the next scheduled FED interest rate announcement December 14. My guess is the FED raises the funds rate by either 25 or 50 bps on that date, down from the four straight 75 bps raises that were made during the last four annoucements.