Fed hikes rates, gold challenges old rules - The Express Tribune
Fed hikes rates, gold challenges old rules - The Express Tribune
Source: The Express Tribune
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DW NOTE
The Fed raised rates into a supply shock while the primary chokepoint for global oil trade sits mined shut. Gold fell 17.5% from its January high even as the conditions that drove it there — fiscal deficits at 6% of GDP, active wars across three theaters, a closed Strait of Hormuz — remain unchanged or worse. Either markets believe this ends soon, or they've stopped pricing anything beyond the next Fed dot plot.