Gold, Bitcoin Pop After U.S. CPI Data

Gold prices are on the move after the US CPI data has finally eased off and printed the reading of 5% against the expectations of 5.1%. Traders have taken this news as an indicator that the Fed is going to ease off from its rate hike cycle. However, the Fed minutes, which are due later in the day, are highly important, as the Fed may argue that core inflation is still sticky and they need to do more.