USLV pop - gold holding tight despite macro noise?

Watching this $USLV pop today, currently up +7.46%, after what felt like a bit of a lull. It's interesting because despite all the hawkish Fed talk and recent strong jobs data that usually pressures non-yield assets, gold seems to be holding its ground reasonably well. While I'm not chasing this move, it does make me reconsider my short-term bearish tilt on metals. My thinking was a stronger dollar and higher rates would pull the rug, but it seems there's still underlying demand or perhaps just a market waiting for clearer direction. I'm keeping a closer eye on the next CPI print; if inflation shows any signs of re-acceleration, this kind of move in $USLV could be more than just a dead cat bounce, suggesting a potential hedging narrative starting to gain traction again. Not positioning yet, just adding to the watchlist and looking for confirmation.