Gold Holds Decline as Traders Weigh Prospects for Fed Rate Hike - Bloomberg.com
Gold Holds Decline as Traders Weigh Prospects for Fed Rate Hike - Bloomberg.com
Source: Bloomberg.com
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DW NOTE
Gold down 15.8% from January's peak while the Fed debates whether to hike from 3.65%. The Strait of Hormuz has been closed for four months, oil is up 44% year-on-year, and the 10-year yield is at 4.77%. Gold isn't declining because risk has vanished — it's declining because real rates are finally positive and the metal offers no carry.