Gold shrugs off Fed rate hike as deeper forces drive safe-haven demand - kitco.com
Gold shrugs off Fed rate hike as deeper forces drive safe-haven demand - kitco.com
Source: kitco.com
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DW NOTE
The Fed hiked into a supply shock — WTI at $96 with Hormuz effectively closed, PPI running at 5.44% while the benchmark rate sits at 4%. Gold down 16.6% from January's $5,318 high isn't a rejection of safe-haven demand, it's a repricing of which disaster arrives first: the inflation no one can contain or the recession the rate hikes guarantee.