Markets

Gold Steadies as Traders Assess US-Iran Tensions, Fed Rate Path - Bloomberg.com

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DW NOTE

Gold at $4,152 is down 22% from January's all-time high while the Strait of Hormuz enters its fourth day of effective closure and oil climbs toward $105. The haven that rallied when geopolitical risk was theoretical is selling off now that 17 million barrels a day of crude flow has actually stopped.

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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 Steadies as Traders Assess US-Iran Tensions, Fed Rate Path - Bloomberg.com

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