Gold surged 700 pips right after yesterday’s CPI release only to fall back again quickly. What a classic bull trap 🥲.
Frankly speaking, I don’t buy these CPI numbers at all. With the Strait of Hormuz still shut, there is no way oil prices can drop back to pre-conflict levels ☺️.
Go ask around your friends and colleagues – does anyone actually feel like inflation is slowing down? 🤣
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