Gold steadies above $4,000 as traders await Fed decision, PCE data - Yahoo Finance
Gold steadies above $4,000 as traders await Fed decision, PCE data - Yahoo Finance
Source: Yahoo Finance
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DW NOTE
Gold at $4,073 is down 23% from January's $5,318 peak despite eight months of a closed Strait of Hormuz and 6% global oil supply contraction. The Fed hasn't cut into a supply shock because it can't — monetary policy doesn't reopen shipping lanes. What ended the rally wasn't stability; it was the market pricing in that central banks will hold rates elevated regardless of energy disruption.