Gold slumps to 6-month low even as inflation fears rise. Here's why bullion is out of favor
Summary
The yellow metal is at its lowest level of the year as potential interest rate increases and faltering technical signals weigh on prices.
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Producer prices spiked 1.1% in May, following a downwardly revised 1.1% rise in April. That's back-to-back months of 14% annualized increases. So far in 2026, the PPI is already up 4%. If this pace continues, it will rise 10% in 2026, matching the 2021 gain, the most since 1980.
— Peter Schiff (@PeterSchiff) June 11, 2026
$GOLD
— Umair Orakzai (@Umairorkz) June 11, 2026
For GOLD, here is your first SR level tapped as promised.
Now the next target is mentioned on the chart and the invalidation for that is couple daily closes above $4,230.
As said in the last update, from now everytime this chart is shared, there will be a target on the… https://t.co/w9eRID6s4Y pic.twitter.com/JzweNXdCjg