​Gold Surges To New Record High After Hot PPI As ECB/WSJ Trigger Dollar Dump – Tyler Durden

Gold Surges To New Record High After Hot PPI As ECB/WSJ Trigger Dollar Dump ECB cut rates by 25bps as expected (along with a stagflationary cut to growth and hike to inflation forecasts) but all eyes were on US data. A hotter than expected PPI followed the hotter than expected core CPI pushed rate-cut expectations lower (although jobless claims fell). Interestingly, rate cut expectations for 2024 jumped after the ugly 30Y auction and WSJ Fed-whisperer Nick Timiraos comments (which were entirely useless, merely stating that policymakers were considering whether to cut by 25bp or 50bp)… Source: Bloomberg As the chart…  — Continue at ZeroHedge News : Read More