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Gold holds above $4,020 as Fed-rate risk caps rebound - Kitco AM Report - KITCO

Source: KITCO

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DW NOTE

Gold is 23.7% off its January high despite a month where crude rose 26% on the Strait closure. The narrative that gold tracks geopolitical stress has it backward — gold rallies when real rates fall, not when oil chokes points close. The Fed holding at 3.65% with 10-year yields at 4.57% means the metal is fighting a 93-basis-point real yield headwind. Physics wins.

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Gold holds above $4,020 as Fed-rate risk caps rebound - Kitco AM Report - KITCO

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Brent Breaks $100 for the First Time in Nearly Two Months

Bitcoin climbs as oil tops $100, equities drop after Iran strikes

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