May's consumer price index is set to be released tomorrow morning, and the broad expectation is that inflation will climb higher compared to the previous month's reading of 4.2%.
Gary Wagner, editor of TheGoldForecast.com, agrees with the consensus expectation.
"I agree that we should see an uptick in the number of inflation," Wagner told David Lin, anchor for Kitco News. "The reason being, oil continues to rise, and commodities continue to rise, so the key elements of goods and services needed by the public are more expensive, and that of course is really the definition of inflation."
Gary Wagner has been a technical market analyst for 25 years. A frequent contributor to STOCKS & COMMODITIES Magazine, he has also written for Futures Magazine as well as Barrons. He is the executive producer of "The Gold Forecast," a daily video newsletter. He has been a speaker for financial seminars including Futures West and the Dow Jones Financial Symposium which travels throughout the world.. Coauthor of "Trading Applications Of Japanese Candlestick Charting" a John Wiley publication.