Gold Clings to Gains Above $4,000 as Markets Await Fed - WSJ

Source: WSJ

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DW NOTE

Gold has fallen 23% from its January peak despite eight months of a closed Strait of Hormuz and 6% less oil flowing globally. Whatever was driving buyers at $5,318 — war premium, inflation hedge, panic — has expired. The Fed holds rates Wednesday, but the real story is what metal traders no longer believe.

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