Either Gold or the Market 'Wrong' About Fed Rate Forecasts - BullionVault
Either Gold or the Market 'Wrong' About Fed Rate Forecasts - BullionVault
Source: BullionVault
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DW NOTE
Gold is down 17.5% from its January high while the Fed is about to hike into a 6% global oil supply shock and 5.4% producer price inflation. One of two things is true: either the market believes the Fed will cut fast enough to avoid recession, or gold is pricing a supply glut that doesn't exist. The 10-year yield is up 22.7% year-over-year — that's not the bond market betting on easing.