Gold rallies as buyers ignore higher yields, oil shock - Kitco PM Report - KITCO
Source: KITCO
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DW NOTE
Gold is up 1.91% despite 10-year yields climbing to 4.57% and oil surging 10.89% on supply shocks. That's not buyers ignoring fundamentals — that's buyers pricing the probability that $1.4 trillion deficits and frozen shipping lanes don't end with gentle landings.
Oil prices hit the $100 per barrel mark early on Wednesday in Asian trade as the ongoing crisis in the Middle East has diminished hopes of U.S.-Iran talks and a return to normal oil flows soon. As of early morning trade in Europe on Wednesday, the international benchmark, Brent Crude, jumped by 2.2
Bitcoin advanced to as high as $79,700 while Brent crude topped $100 and European shares fell, leaving crypto tracking gold rather than equities.
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