Shorts can laugh now but they won't get to cash in.
Mainstream investors want inflation to just die out and go away so much they believe any spin the Fed puts on it.
The Fed with their pet core inflation numbers that aren't any real inflation numbers at all are starting to see headline inflation moving back up. All but currently being ignored by the mainstream at the behest of the Fed still talking out of both sides of their mouths regarding the inflation fight..
Core inflation is adjusted to come in much leaner than it actually is and then with food and energy prices removed from the equation.
Add in super core removing housing from the equation and what's left to report isn't just meddling manipulation but pure endorsed corruption.
Corruption fashioned to divert blame from the Govt. and Fed who are solely responsible for the real debt and inflation mess they created.
So by using their manipulated pet core numbers (CPI) they go on appeasing the masses - the ones gullible to believe them and the ones using the system as its being played.
The hook is that real inflation is headed back up with rising oil prices and the Fed is going to be forced to monetize govt. spending just to keep the economy booted up. In other words, inflation creation and a lot of it via more rounds of QE. All with a dollar that will resume its downward slide with a reversal of interest rate policy to follow ,albeit but only temporary.
The current - emerging from out of the woods - sentiment that's having a negative effect on gold and gold stocks is entirely superficial and will soon enough disappear in a heartbeat before the shorts can even cash out in a coming turnaround.
That will be where the Fed bleeds out and any spin they try to put on inflation will backfire seeing the masses flee to safer havens of wealth preservation.