Markets

Gold price slides as hike odds near 70%, testing strategist’s key level from a day earlier - KITCO

Source: KITCO

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DW NOTE

Rate hike odds have jumped to 70% — meaning markets now expect the Fed to raise from 3.65% despite the Strait of Hormuz having been shut for 186 days and WTI crude up 9.2% in a week. Gold down 17.4% from its January high suggests traders believe tightening into a supply shock is credible policy rather than industrial suicide.

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Kuwait’s crude oil exports have rebounded to about 1 million barrels per day (bpd), recovering to two-thirds of the 1.6 million bpd shipped through the Strait of Hormuz before the Iran war, according to a senior official at state-owned Kuwait Petroleum Corporation (KPC). Kuwait has managed to ramp u

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Gold price slides as hike odds near 70%, testing strategist’s key level from a day earlier - KITCO

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