Gold, silver firm as equities slip and Hormuz risk supports oil - Kitco PM Report - KITCO
Gold, silver firm as equities slip and Hormuz risk supports oil - Kitco PM Report - KITCO
Source: KITCO
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DW NOTE
The stranded tanker fleet in the Gulf has now sat idle for three weeks since the ceasefire. Oil is down 27% from yearly highs because the market has priced in the supply loss and moved on to pricing demand destruction at $82 crude. Gold falling 25% from its January peak tells you the same story: the crisis premium evaporated faster than the crisis itself resolved.