Gold near three-month high on Treasury buyback plan, dollar weakness - qz.com
Gold near three-month high on Treasury buyback plan, dollar weakness - qz.com
Source: qz.com
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DW NOTE
Gold is within 14% of its January all-time high after a 4.85% weekly rally — not because of Treasury buybacks or dollar weakness, but because the Strait of Hormuz has been effectively closed for 129 days and the Fed cannot cut rates while core PCE runs at 3.3%. The market is pricing geopolitical risk that shows no sign of resolution, not reacting to fiscal gimmicks.