The latest update on consumer price inflation in the US was released this morning and though some components came in a tick higher than expected, the relative calm of the report has allowed the Comex PMs to continue to bounce and recovery that began yesterday.

Of course, the question is, how long might this bounce last? Additionally, are these bounces just "bear flags" and "bull traps" within a greater price pullback that will soon continue? More on that later today with your podcast. For now, though, here's what was expected out of the CPI report:...