Gold steadies, silver falls as Fed holds rates, two officials favor hike - Kitco PM Report - Kitco
Gold steadies, silver falls as Fed holds rates, two officials favor hike - Kitco PM Report - Kitco
Source: Kitco
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DW NOTE
The Fed holds rates while two officials dissent in favor of a hike — that's a remarkable breakdown in consensus when oil trades above $100 and the Strait of Hormuz is effectively closed. Gold is down 23.8% from its January peak despite shipping strangulation and fiscal deficits running at 6% of GDP. Either the market believes the supply shock resolves quickly, or it's pricing a recession that makes the rate level irrelevant.