US inflation in April accelerated at its fastest pace in more than 12 years, with consumer prices leaping 4.2%. Meanwhile, the Fed's top official, Richard Clarida, said this number was "well above what I and outside forecasters expected."
US economist thinks the Fed's "cornered" as it's stuck between two bad choices. Because it will either lose control of inflation or crash the markets, Nouriel Roubini, CEO of Roubini Macro Associates, said.
Analysts expect gold prices to hit $2,000 in the second half of 2021: "The Federal Reserve is going to remain as cautious as possible, for as long as possible. That will be positive for gold," Steven Dunn, the head of exchange-traded products at Aberdeen Standard Investments, said.
Ouch! Bitcoin dropped to $45,700, the lowest since March 1. Bitcoin fell 17% on Wednesday after Elon Musk said Tesla would stop accepting the digital token as payment for its electric cars for environmental reasons.
Rare gold coins produced to commemorate the coronation of George VI found in Leicester: "They are part of the best collection I've ever seen," the valuer said.