Gold is up $100 as the June CPI fell 0.4%, more than expected. But the main driver was a 30% drop in oil. Ignoring the fact that oil is already up 20% in July and headed higher, a lower official inflation rate merely gives the Fed an excuse to ignore the rise in actual inflation.
@peterschiff·Jul 14, 2026·2 sources·neutral
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Gold rises on lower CPI driven by oil drop, but author warns oil's rebound will mask real inflation.
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Gold is up $100 as the June CPI fell 0.4%, more than expected. But the main driver was a 30% drop in oil. Ignoring the fact that oil is already up 20% in July and headed higher, a lower official inflation rate merely gives the Fed an excuse to ignore the rise in actual inflation.
@peterschiff
Jul 14, 2026
NEW: U.S. June CPI fell 0.4%, reducing pressure on the Fed to hike rates at its July 29-30 meeting.
@coindesk
Jul 14, 2026