Daily Dispatches

By Dave Kranzler
Investment Research Dynamics, Denver
Thursday, August 12, 2021

"The concept of transitory is really this: it is that, uh, the increases will happen. We’re not saying they will reverse. That's not what transitory means. It means that the increases in prices will happen, so there will be inflation, but that the process of inflation, uh, will stop so that, so that there won’t be furth- uh -- fur- ..."

-- Jay Powell, verbatim, on inflation at the last post-FOMC meeting press conference.

Counterintuitively enough, gold prices fell.

* * *

By Olivia Rockerman
Bloomberg News
Thursday, August 12, 2021

Prices paid to U.S. producers rose in July by more than expected, suggesting that higher commodity costs and supply bottlenecks are still adding to inflationary pressures for companies.

By Brien Lundin, Editor
Gold Newsletter, Metairie, Louisiana
Wednesday, August 11, 2021

We've seen this movie before.

Most notably, it occurred in April of 2013, when high-frequency traders (HFTs) pocketed a billion or so dollars by taking the gold price down more than $250 over the course of two trading sessions.

They did it again on Sunday night.

... Dispatch continues below ...

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Consumer Inflation in U.S. Moderates While Remaining Elevated

By Reade Pickert
Bloomberg News
Wednesday, August 11, 2021

Prices paid by U.S. consumers climbed in July at a more moderate pace, though not enough to provide major relief from the cost increases weighing on sentiment and driving policy debate.

The consumer price index increased 0.5% from June and 5.4% from a year ago, according to Labor Department data released today. Excluding the volatile food and energy components, the so-called core CPI rose 0.3% from the prior month and 4.3% from July 2020.