Smoking Hot Inflation Data Sends The Entire Market Into Chaos, Gold, Crypto, And The Dollar Pump

The soaring US CPI (at 40 year highs) looked like the straw that broke the back of the 'transitory' narrative. Visit our sponsor http://stjamesgold.com OTCQB: LRDJF TSX-V: LORD FSE: BVU3
The ugly CPI print prompted a serious reaction across all asset classes in the pre-market:
Stocks tumbled
VIX jumped
Crypto spiked
Gold spiked
TSY Yields spiked (except the 30Y)
The yield Curve flattened dramatically
Dollar spiked
Gold receded slightly but made the new 2021 high in price.
U.S. gold futures rose 1.1% to $1,851.40.
"Once again we have hot inflationary data," said David Meger, director of metals trading at High Ridge Futures. "With gold being the quintessential hedge against inflation, we believe inflation is the underlying positive environment that will foster the gold market rally in the weeks and months ahead."
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