And today POG takes a dump on CPI news.  While it is as slightly lower than last month, Core CPI - the number the Fed leans on - was slightly higher.  With a rate increase set for next week, it looks now as if the Fed will not be pivoting.  The increase will top the expected range of .75 percent or more, putting us close to a bad recession than a mild one.  

However, what matters for gold, is the trend in the dollar, which could well be lower over soon.  That's good for gold prices and the prices of other commodities.