Can gold hold $4,000 as strong US GDP and a cautious ECB squeeze the bulls? - Kitco
Can gold hold $4,000 as strong US GDP and a cautious ECB squeeze the bulls? - Kitco
Source: Kitco
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DW NOTE
The ECB isn't squeezing anyone — it's raising rates into a continental recession because it has no choice. Gold didn't rally to $5,318 in January on bull conviction; it rallied on the expectation that central banks had lost control. The 24% drawdown since suggests the market no longer believes that story, even with the Strait of Hormuz closed and oil above $100.