Gold edges lower as Treasury yields offset softer oil, Fed hike concerns linger - Investing.com
Gold edges lower as Treasury yields offset softer oil, Fed hike concerns linger - Investing.com
Source: Investing.com
―
DW NOTE
Gold has fallen 21.5% from its January peak to $4,177, not because real yields have become attractive or inflation has abated, but because the Fed raised rates by 25 basis points for the first time in three years. Meanwhile the Strait of Hormuz remains effectively shut, oil sits at $90 having collapsed from crisis highs, and Treasury yields have climbed 24% year-over-year to 5.17%. The market is pricing in monetary control that doesn't exist and geopolitical calm that hasn't arrived.