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How the Dollar Reacts to CPI Data Will Drive Metal Prices

Thursday is the CPI numbers. We get a lesser number, but one the market will look at -- the PPI -- on Friday. This is important because, is the market going to see sticky inflation or not? We expect the headline number to continue to slip. It's the core inflation number you want to keep your eye on. What's that number doing? What's wage inflation doing? Those are the things you have to watch. 

I get so many people saying, "Ira, when is the time to buy gold?" It isn't yet. It'll be the time when the Fed says that it's through with the rate hikes. The market is saying the Fed's not done. If the Fed were done, the dollar would probably be falling and gold would probably rally. 

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