Gold buying began at the European open and accelerated after the weaker than expected CPI print, snapping above $1200 and extending gains on notable volumes.
Volume is well above average.
Gold futures – after 5 days of testing and failing – have finally broken well above their 50DMA.
Notably the dollar is not plunging (it did spike lower on CPI but rebounded).
Silver is also on a tear…showing the EU open and CPI print spikes more clearly.
Spiking back above $14.50 on heavy volume…
Gold is now the only asset-class higher since The Fed hiked rates in September.
