Gold holds above $4,100 as softer PCE offsets hawkish Fed - Kitco PM Report - KITCO
Gold holds above $4,100 as softer PCE offsets hawkish Fed - Kitco PM Report - KITCO
Source: KITCO
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DW NOTE
The Fed holds rates steady while core PCE comes in softer than expected — and gold somehow rallies on both data points. This is the market equivalent of a patient celebrating that their fever dropped from 104° to 103° while the doctor announces he's stopping the antibiotics. Real rates remain negative, the dollar index has shed 6% in three months, and $4,100 gold is now the floor rather than resistance. When contradictory signals all point the same direction, that direction is debasement.