Gold’s Summer Surge Fueled by the Debasement Trade - ETF Database
Gold’s Summer Surge Fueled by the Debasement Trade - ETF Database
Source: ETF Database
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DW NOTE
Gold fell 2.1% this week and now sits 17.3% below its January peak. If debasement were the driver, it wouldn't stop debasing in September. The real fuel was the Hormuz closure — gold hit $5,318 when the strait shut in February, then gave back a third of those gains as markets priced in ceasefire hopes that never materialised. What looked like a monetary escape trade was just energy panic with a six-month lag.