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Gold Holds 200-Day EMA, Futures and Options Hint at ‘Dip-Buying Mentality’ - FOREX.com

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DW NOTE

Gold is holding the 200-day EMA while down 16.8% from its January high, and traders are positioning for dips. They're not wrong. When the Strait of Hormuz is still effectively closed seven months after a ceasefire, when oil supply is still down 10 million barrels a day from attacks on Gulf infrastructure, and when the Fed is hinting at rate hikes despite 3.4% inflation, a 17% pullback in the monetary chaos hedge looks like a sale, not a signal.

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Gulf Producers Find Workarounds As Hormuz Tensions Persist

Kuwait’s crude oil exports have rebounded to about 1 million barrels per day (bpd), recovering to two-thirds of the 1.6 million bpd shipped through the Strait of Hormuz before the Iran war, according to a senior official at state-owned Kuwait Petroleum Corporation (KPC). Kuwait has managed to ramp u

Gold Holds 200-Day EMA, Futures and Options Hint at ‘Dip-Buying Mentality’ - FOREX.com

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