Gold surges above $4,100 as US-Iran fighting pause sends oil prices lower - qz.com
Gold surges above $4,100 as US-Iran fighting pause sends oil prices lower - qz.com
Source: qz.com
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DW NOTE
Gold rallying 23% in a year while fighting pauses tells you precisely nothing about gold and everything about how much paper currency has been printed. Oil falling on a ceasefire is textbook mean reversion — the premium was always temporary. The $4,100 level means nothing without the context that gold is still down 23% from its January high of $5,318. This is not a surge; this is a partial recovery from a drawdown during a brief lull in a conflict that has driven oil up 27% in a month.