Gold rebounds from one-week low as dollar slips - Reuters
Gold rebounds from one-week low as dollar slips - Reuters
Source: Reuters
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DW NOTE
Gold moved up from a one-week low as the dollar weakened — the inverse correlation holding even as both assets track the same underlying risk. With the Strait of Hormuz still effectively closed and WTI at $96 after an 8.76% weekly surge, gold is pricing geopolitical premium while the dollar catches its breath after a month-long climb driven by 5.24% 10-year yields. Neither move changes the fact that real rates remain negative with official inflation at 3.4% and the Fed funds rate at 3.90%.