*Why The Gold Pumped much in Last Week ?*
"This was a big week for traders who were expecting a decrease in interest rates. We saw jobs numbers come in weaker than expected (NFP revision + increase in unemployment rate was key here), and PCE and PPI showed signs of cooling inflation. Additionally, it's an election year in the US, EU, and UK (and elsewhere). However, CPI is coming out, and it will either cut rates or push them back. In my opinion, metals are looking good in any scenario... if we see a decrease in CPI, rates will drop soon, and the dollar will strengthen, which is good for gold. But if we see CPI tick up or defy expectations... stagflation concerns may rise again, which is also good for gold. The market is smart and already knows this. I think this is part of why gold prices have risen so much in the past few days."
