Gold Edges Lower as Investors Mull Potential Fed Rate Hike This Year - WSJ
Gold Edges Lower as Investors Mull Potential Fed Rate Hike This Year - WSJ
Source: WSJ
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DW NOTE
The Fed is signaling restraint while the Strait of Hormuz has been effectively shut for 241 days and oil inventories are draining at 1.9 million barrels per day. Gold is down 24% from its January high despite conditions that would normally send it screaming higher. Either the market believes the energy crisis resolves itself by Christmas, or it's pricing in something considerably darker about growth.