Gold erases losses
Gold started the week on the back foot but has turned around on broad US dollar weakness and is now threatening $1900 once again.
Most currencies have recouped Thursday's drop but gold hasn't. It's at $1896 compared to $1910 at Thursday's high.
I'm encouraged by the strength of the rebound in the past two days but it's too soon to bullish. The main headwind this week will be the CPI report, which could re-stoke inflation fears. I would look to buy a dip on that because I'm increasingly convinced that patience will be the message from the June FOMC.
