Gold Holds Near Three-Month High as Debasement Trade Returns - Bloomberg.com
Gold Holds Near Three-Month High as Debasement Trade Returns - Bloomberg.com
Source: Bloomberg.com
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DW NOTE
Gold at $4,681 is still 12% off January's high despite this week's rally — which tells you the debasement trade isn't back, it never left. What changed is that markets stopped pricing Hormuz reopening as imminent. Nine ships a day through the strait versus seventy-three is a supply shock, not a disruption, and someone finally noticed the difference.