OUNZ - Gold Seeks Clarity Amid Inflation Haze

• Gold stocks rallied from oversold levels to a 7.87% gain for the NYSE Arca Gold Miners Index and a 13.21% advance for the MVIS Global Junior Gold Miners Index.
• Gold is clearly responding to inflationary pressures. However, this has been offset by a belief in the market that tighter Fed policies will corral inflation and that the economy is robust enough to withstand higher rates.
• The U.S. Treasury Department reported the fiscal 2021 deficit was $2.77 trillion, compared with the previous year’s $3.1 trillion. The Congressional Budget Office figures the deficit will total $1.15 trillion in 2022.

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