Gold set to slide a second session as dollar steadies

MarketWatch/Mark DeCambre/06-30-17

Gold prices looked set to notch a second straight decline on Friday, capping an up-and-down week marked by a swift change in global-market sentiment as a world-wide bond rout drove yields higher and diminished appetite for precious metals.

…Metals added to losses after a report showed that the Federal Reserve’s preferred measure of inflation, the price index for personal-consumption expenditures, fell 0.1% in May from the prior month. Excluding the often-volatile categories of food and energy, so-called core prices were up 0.1% in May.

PG View: While there may be some inflation based trades getting unwound, gold has performed exceptionally well during the worst deflationary environments in history.

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