Gold on track to end four-month slump as investors weigh Fed signals - reuters.com
Gold on track to end four-month slump as investors weigh Fed signals - reuters.com
Source: reuters.com
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DW NOTE
Gold has fallen 22% from its January peak of $5,318 but is still up 26% year-over-year — which tells you the drawdown is a correction within a bull market, not a reversal. The four-month slump coincided with real rates turning marginally positive, but with PPI running at 5.5% and the Fed funds rate at 3.6%, the inflation-adjusted cost of holding non-yielding assets remains negligible.