Gold's next $1,000 move is likely higher as Fed hawkishness peaks, says State Street's Doshi - KITCO
Gold's next $1,000 move is likely higher as Fed hawkishness peaks, says State Street's Doshi - KITCO
Source: KITCO
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DW NOTE
State Street is calling a move to $5,000+ when gold has already fallen 23% from its January peak and sits at $4,077. The Fed has cut 137 basis points in the past year — that's not hawkishness peaking, that's a cutting cycle already well advanced. If the thesis is that easing drives gold higher, the test has already run and the result is a $1,200 drawdown.