Gold Above $4,600 on Weaker Dollar, Debt Fears - WSJ
Source: WSJ
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DW NOTE
Gold at $4,600 is still 14% below its January high of $5,318. The rally isn't a flight to safety — it's a delayed recognition that a 129-day Hormuz closure and a $1.9 trillion deficit aren't temporary problems. The debt wasn't a fear six months ago. Now it's a price.
For the first four months of the war between the United States and Israel and Iran, oil traders remained largely bearish. The overwhelming expectation was that the war would end soon—even as July rolled around—and oil flows out of Hormuz would recover. Instead, the world is slipping into a fuel shor
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