Strong CPI and PPI numbers this week weighed on market expectations of a sooner rate cut this year. 

Market pricing for a 25 bps rate cut in June is 75%, down from 95% at the start of the week. The FOMC is adopting a cautious stance and would like to see more evidence of inflation falling to the target of 2% before start cutting interest rates. 

Investors will watch the Fed’s pivot to easing monetary policy before adding Gold. 

Strategic investments in form of ETFs are yet to turn positive.