China is winning the war in the Middle East, and gold and the dollar will start to feel it, strategist says - MarketWatch
Source: MarketWatch
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DW NOTE
The Hormuz closure is 34 days old and crude is up 26% on the month — yet gold sits 24% below its January peak. If China were truly "winning" anything strategic in the Gulf, haven't we already seen the price move?
Oil prices hit the $100 per barrel mark early on Wednesday in Asian trade as the ongoing crisis in the Middle East has diminished hopes of U.S.-Iran talks and a return to normal oil flows soon. As of early morning trade in Europe on Wednesday, the international benchmark, Brent Crude, jumped by 2.2
Bitcoin advanced to as high as $79,700 while Brent crude topped $100 and European shares fell, leaving crypto tracking gold rather than equities.
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