Gold gains on pause in US-Iran fighting; Fed decision looms - CNBC
Source: CNBC
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DW NOTE
Gold has fallen 23.5% from its January peak of $5,318 and now trades at $4,071. The "pause in US-Iran fighting" has not halted the drawdown — it has accelerated it. Safe-haven demand evaporates the moment people stop shooting, which is why using war as a portfolio hedge is a bet on escalation, not protection.
Oil prices hit the $100 per barrel mark early on Wednesday in Asian trade as the ongoing crisis in the Middle East has diminished hopes of U.S.-Iran talks and a return to normal oil flows soon. As of early morning trade in Europe on Wednesday, the international benchmark, Brent Crude, jumped by 2.2
Bitcoin advanced to as high as $79,700 while Brent crude topped $100 and European shares fell, leaving crypto tracking gold rather than equities.
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