Despite The dollar easing, and increased inflationary reports coming out of China last night, gold still managed to tumble back. CPI in China rose to 2.7% in February, and now markets will be factoring in how the Chinese are going to handle rising inflation. Tightening monetary policy, and even interest rate rises are now a factor to watch out for, and it will be interesting to note if gold once again assumes its mantle as hedge against inflation.

Market News

1. The rate of unemployment rose to 5.3% in Australia, missing estimates. Analysts had expected 15,000 jobs to be created, but it came it at 400
2. Japans revised Q4 GDP showed that their economy expanded by 0.9% as opposed to the reported 1.1%
3. EU Ministers are scheduled to meet on March 16th to discuss the Greek debt issue

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