Gold Steadies Above $4,000 With Fed Rate Decision in Focus - Bloomberg.com

Gold Steadies Above $4,000 With Fed Rate Decision in Focus - Bloomberg.com

Source: Bloomberg.com

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DW NOTE

Gold above $4,000 while the Strait of Hormuz is effectively closed and oil inventories have fallen 1.9 million barrels per day for three months tells you how the market views the Fed relative to geopolitics: monetary policy matters more than supply shocks. That's either rational discounting or a spectacular mispricing of physical scarcity.

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