Gold price needs a dovish Fed or renewed debasement fears to reverse its downtrend – Bank of America - Kitco
Gold price needs a dovish Fed or renewed debasement fears to reverse its downtrend – Bank of America - Kitco
Source: Kitco
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DW NOTE
Bank of America thinks gold needs a "dovish Fed" to reverse its slide. Gold is down 20.7% from its January peak while the Strait of Hormuz has been effectively closed for eight days, the US is running a $1.9 trillion deficit, and core PCE is running at 3.4%. If that constellation of facts doesn't constitute debasement fears, the phrase has no meaning.