June 10, 2022

Metals and equities plunged Friday morning after inflation hit a new 40-year high, rising 8.6% in May, topping estimates by 0.3%. Gold and silver have since recovered today’s losses with gold on pace for a weekly gain, up about $40 from today’s low. Stocks did not recover, and closed the week firmly in the red. The Dow and S&P each shed over 2% and the Nasdaq dipped 3.5% Friday as inflation data rattled investors.