Markets

Gold, silver slump as Fed minutes keep December hike risk alive - Kitco PM Report - Kitco

Source: Kitco

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DW NOTE

The Fed minutes hint at December tightening while precious metals fall — during a Strait of Hormuz closure now in its eighth month, with global oil supply down 6%, the 10-year yield at 5.31%, and gold still $1,180 below its January peak. Markets have priced in the supply shock and moved on; the Fed apparently hasn't.

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The Indian crude basket hit $123.29 per barrel last week, approaching levels recorded in March 2012, and adding 86% to the price Indian oil marketing companies pay, local media have reported, also noting the effect of a cheaper rupee. Since Indian companies pay for the oil they buy from abroad in U.

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Gold, silver slump as Fed minutes keep December hike risk alive - Kitco PM Report - Kitco

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