$GOLD and $SILVER volatility has come down meaningfully over the past few sessions. Still elevated by historical standards, but well off the late-January extremes when price swings were getting truly disorderly.
US CPI is out Friday morning. There’s increasing chatter around a bull steepener, driven primarily by a rally in the short end. Notably, the US 2-year is sitting right at the bottom of the range that’s been in play since mid-2022.
If inflation prints softer, that narrative likely gets a lot more fuel.
#Markets #Trading #EconomicData #Inflation
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