Fidelity Plans to Rebuild Gold Holdings on Long-Term Bull Case - Bloomberg.com
Source: Bloomberg.com
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DW NOTE
Fidelity rebuilding gold positions after a 24% drawdown from January highs — with the Strait of Hormuz closed, the Fed eyeing hikes while real rates turn negative, and U.S. debt now equal to GDP. The case for gold isn't long-term, it's current.
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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