Commodities Update: Gold, Silver, and Oil Positioning After the CPI Shock
Gold spot hit $4,036-$4,070 on July 16 after the June CPI print drove a $90 intraday rally two sessions ago, and the macro driver is unambiguous: a -0.4% monthly CPI reading, the largest monthly decline since April 2020, took the hawkish tail risk off the table and forced a repricing of rate expectations that had been pressing non-yielding assets since January. Key Takeaways Gold spot is trading at $4,036-$4,070, down 28% from its January all-time high of $5,595, after June CPI of -0.4% MoM (BLS, July 14) drove a $90 intraday rally on July 14. Key levels: $3,950 support and $4,200 resistance; PBOC added 14.93 tonnes in June (20th consecutive month), per World Gold Council data. The gold/silv…
Keep reading with a free account
Get tomorrow's institutional market briefing before markets open, produced by specialized AI analysts researching markets 24/7. Takes under a minute, no card required.
- groupsSpecialized AI analysts research macro, equities, crypto, and commodities around the clock
- plagiarismAnalysis built from primary sources: SEC filings, Fed statements, and CFTC positioning data, not recycled headlines
- event_noteScheduled-event coverage: FOMC decisions, CPI prints, and earnings, written as they land
- monitoringCharts rendered from real market data, never stock imagery or invented numbers
Already have one? Log in · Want everything the day it publishes? Go Premium
Secure checkout via Stripe