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Gold slips as Warsh repricing, Hormuz oil spike lift rate risk - Kitco AM Report - KITCO

Source: KITCO

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DW NOTE

Gold falls on the day one of history's largest oil supply shocks should have produced the opposite move. The Strait of Hormuz has been effectively closed for a week — three ships passing where 85 would normally transit, 2,000 stranded in the Gulf — yet oil is down 4.2% this week and gold is off 14.8% from January highs. Either the market believes Kevin Warsh will hike into a supply crisis, or it has priced the crisis as transient theatre. One of those is catastrophically wrong.

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Gold slips as Warsh repricing, Hormuz oil spike lift rate risk - Kitco AM Report - KITCO

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