The Consumer Price Index (CPI) report, published on the morning of February 13, showed higher inflation rates than previously expected — 3.1% versus 2.9%.. One of the first assets to react to the news was gold.
In the first minutes after publication, the commodity's quotes fell sharply, falling by as much as 1.42% by the time of publication. As a result of this change, the price of gold fell below $2,000 for the first time since December 13, 2024.
>Investor, broker, financial commentator, radio host and “gold bug” Peter Schiff quickly reached out to X to comment that while the higher-than-expected gold CPI has caused gold prices to fall, it is actually bullish event for the commodity «because it confirms that the Fed has failed to raise interest rates high enough to stop inflation from running out of control.»
>It should be noted, however, that unlike gold, silver, Bitcoin and the S&P 500, the Nasdaq 100 opened significantly lower than its last close, but was generally on an upward trajectory in the first hour of trading.