Gold is a winner again today, up $67 to $4434 and just edging above the weekly high set yesterday. In addition, today's CPI report underscored that there is no rush for the Fed to hike rates. Gold touched a session high of $4440 moments after the report landed. The problem for gold is that it could mean a fresh spike in oil prices once strategic reserves are drawn down. The problem is that if oil prices rise materially from here, there could be fresh pressures to sell gold reserves to stabilize currencies or fund imports.