Gold heads for steep weekly loss as Hormuz tensions lift crude toward five-month highs - Kitco AM Report - Kitco

Source: Kitco

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DW NOTE

Gold fell 24.6% from its January high while crude surged 66.58% year-over-year — exactly the pattern you'd expect when the real inflation is in energy, not monetary hedge demand. The Strait remains effectively closed at 4 ships per day versus the normal 85, but gold traders are pricing the ceasefire talk in Oleshky, not the supply shock still choking 20% of global oil flows.

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