Instant Market Reaction
Headline CPI above consensus lifted nominal yields initially, pressuring gold before dip-buying emerged as core services inflation remained sticky.
April CPI surprised to the upside, moving real yields and gold spot within minutes of the release.
Headline CPI above consensus lifted nominal yields initially, pressuring gold before dip-buying emerged as core services inflation remained sticky.
Examining gold's real return profile against CPI, PPI, and housing inflation over the past five years.
Why gold rallied even as real yields rose briefly — safe-haven flows vs opportunity cost dynamics.
Double-digit food inflation in several EM economies reinforced household gold savings behavior.