US February PPI year-on-year came in at 3.4%, market expectation was 2.9%, marking the highest since February last year. Inflation data is about to soar, and gold took a smooth dive today because of this. Pay attention to another market: the June Fed meeting decision. Last time I reminded everyone, the probability of no change was 56%, and now it’s already risen to 64%. March no change, April no change, all profits locked in. This time, betting on no change in June.