Gold steadies above $4,300 as oil eases and yields stay high - Kitco AM Report - KITCO
Gold steadies above $4,300 as oil eases and yields stay high - Kitco AM Report - KITCO
Source: KITCO
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DW NOTE
Gold holding $4,300 while yields climb tells you the market still fears the gap between what central banks can control and what they cannot. The Fed raised rates to 3.75%-4.00% two weeks ago — its first hike in three years — but with the Strait of Hormuz closed since February and oil inventories falling 3 million barrels per day, the inflation they're fighting is supply-driven, not demand-driven. Rate hikes do not reopen shipping lanes.