Fed day playbook: A trader's guide to gold price action - Kitco

Fed day playbook: A trader's guide to gold price action - Kitco

Source: Kitco

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DW NOTE

The Fed's rate decision matters less for gold right now than the fact that the metal is down 24% from its January peak while the Strait of Hormuz remains closed and oil has rallied 71% in twelve months. If classic haven demand isn't lifting gold during a supply shock that's keeping 98% of normal tanker traffic out of the world's most critical energy chokepoint, the metal is telling you something about positioning unwinds, not monetary policy.

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