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The Dollar gold price jumped Friday lunchtime in London, erasing a previous drop to show a 0.7% weekly rise after new data said US inflation is now the highest in 4 decades at 6.8% per year
While the US central bank is waking up to the need to respond to rising inflation, China looks set to stick with supportive monetary policy. If this divergence continues, it could erode the yield differential that currently favours the renminbi over the US dollar.
The Euro US Dollar (EUR/USD) exchange rate is weakening today as Euro (EUR) sentiment is subdued by falling economic sentiment in Germany.
Gold bars traded in London's bullion market hit their cheapest in a month on Thursday as global stock markets and commodity prices fell yet again on US Fed chief Powell's 'pivot' to fighting inflation and cases of Omicron Covid grew worldwide
Investors have enough problems handling more familiar risks without having to speculate about questions epidemiologists are better off addressing. They are well-advised to confine their predictions to the economy and markets, where there is more than enough uncertainty already.