Markets

Gold and silver ALERT: Why a pullback doesn’t end the bull market - Kitco

Source: Kitco

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DW NOTE

Gold is down 21% from its January high while the Strait of Hormuz remains closed, oil supply has contracted 6%, and the federal deficit runs at $1.9 trillion. If a fifth of the world's oil chokepoint being blockaded for seven months doesn't sustain a gold rally, the metal was pricing something else entirely — probably rate cuts that aren't coming.

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The Indian crude basket hit $123.29 per barrel last week, approaching levels recorded in March 2012, and adding 86% to the price Indian oil marketing companies pay, local media have reported, also noting the effect of a cheaper rupee. Since Indian companies pay for the oil they buy from abroad in U.

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Gold and silver ALERT: Why a pullback doesn’t end the bull market - Kitco

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