37 days ago • Posted by Jasper Lawler
Gold rallies to its highest in nearly 3 months as inflation bets rise & USD sinks
Gold held near the highest level in three months as investors weighed growing inflation risks and comments from Federal Reserve officials on the labor market for clues on monetary policy going forward.
Bond market expectations for the pace of consumer price inflation over the coming half decade surged on Monday to the highest level since 2006. The jump in the five-year breakeven rate comes amid a run-up in commodities and adds to a longer-term uptick in inflation bets that’s been fueled by improving prospects for growth, plans for infrastructure spending and pandemic-related stimulus measures.