Gold waits for no one - KITCO
Source: KITCO
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DW NOTE
Gold is down 22.5% from its January high of $5,318, now trading at $4,121. That drawdown happened while oil supply disruptions held at 10–14 million barrels per day and two wars ground on. The metal didn't wait for anyone—it front-ran the crisis in January, then repriced when central banks didn't intervene and Treasury yields climbed back above 4.5%.
Oil prices hit the $100 per barrel mark early on Wednesday in Asian trade as the ongoing crisis in the Middle East has diminished hopes of U.S.-Iran talks and a return to normal oil flows soon. As of early morning trade in Europe on Wednesday, the international benchmark, Brent Crude, jumped by 2.2
Bitcoin advanced to as high as $79,700 while Brent crude topped $100 and European shares fell, leaving crypto tracking gold rather than equities.
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