Phillip Streible analyzes the recent stabilization of June Gold futures following a hotter-than-expected Producer Price Index (PPI) print of 1.4%. With inflation data reflecting energy shock pass-throughs, markets have adjusted expectations, completely pricing out 2026 interest rate cuts and shifting focus toward a potential hike in April 2027. Streible examines the impact of upcoming Federal Reserve leadership decisions, highlighting the market focus on sticky inflation and a softening labor backdrop. Additionally, the commentary covers the standout performance of July Silver futures and July Copper futures, noting the divergence between gold and industrial metals driven by supply chain tightness.