Oil is bid over $82, closing in on its $90 price resistance. Gold is solid above $1986, a whisper away from its COVID 2020 highs. Central Banks are failing on supporting their currencies. 2022 inflation redux is in the wind. (*update*)

Chart 1

Chart 2

Chart 3

Oil and Gold are now bid as Central Banks, namely the Federal Reserve, seem disinterested in tightening liquidity. Thus oil and gold have become, once again, a hedge against falling currencies.  2022 redux.

Please refer to Chart 1 and 2 (Oil price).   Price resistance at 90, oil is bid above 82

Chart 3.   Gold price is self explanatory.  

*Update*  "Oil prices rise more than 1% after sharp drop in US crude stocks"

No recession in sight or deflation.