Gold Breaks Out as Fed Credibility Wobbles Before CPI

Stocks are holding near record highs after Friday's ugly jobs report knocked out a chunk of the market's Fed rate-hike fear, with the S&P 500 closing at a fresh peak and futures grinding higher into the new week [1][2]. The catch is that new Fed Chair Kevin Warsh didn't play along with the dovish script — his guidance cut and refusal to commit to a soft inflation target has been described as a genuine credibility shock on Wall Street, and it's keeping bond yields and rate-path uncertainty elevated even as the jobs data argues the other way [3][4][5]. Wednesday's CPI…