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Gold Nears $4,700. One Speech on Friday Could Change Everything. - GoldSilver

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DW NOTE

Gold is up 6.9% in a week on energy supply shocks and climbing yields — but it's still 12% below the January high of $5,318. A rally off crisis lows is not the same as strength. Friday's speech matters only if it addresses the 133-day Strait of Hormuz closure or the $1.4 trillion deficit; everything else is noise.

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For the first four months of the war between the United States and Israel and Iran, oil traders remained largely bearish. The overwhelming expectation was that the war would end soon—even as July rolled around—and oil flows out of Hormuz would recover. Instead, the world is slipping into a fuel shor

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