Markets

Gold Near Nine-Week Low on Prospects for Rate Hike by Year-End - Bloomberg.com

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DW NOTE

Gold fell 22% from its war high because the Federal Reserve is talking about rate hikes while the Strait of Hormuz sits closed for seven months. That tells you everything about what central banks think bond markets will tolerate — and nothing about what energy scarcity means for currencies that claim to store value.

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The Indian crude basket hit $123.29 per barrel last week, approaching levels recorded in March 2012, and adding 86% to the price Indian oil marketing companies pay, local media have reported, also noting the effect of a cheaper rupee. Since Indian companies pay for the oil they buy from abroad in U.

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Gold Near Nine-Week Low on Prospects for Rate Hike by Year-End - Bloomberg.com

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