Why Gold Is Falling Even With War and Hot Inflation

Hot U.S. producer prices (PPI up 6.0% YoY and 1.4% monthly) drove Treasury yields higher (to levels not seen since 2007), strengthened the U.S. dollar (to a six-week high), and led investors to price a more “higher-for-longer” Federal Reserve stance Perigon signal context: impact negative, driver macroeconomic.