Higher rates aren’t breaking gold as structural forces provide a solid floor - Standard Chartered - KITCO
Higher rates aren’t breaking gold as structural forces provide a solid floor - Standard Chartered - KITCO
Source: KITCO
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DW NOTE
Standard Chartered thinks central bank gold buying and geopolitical hedging will keep prices supported even as the Fed hikes rates. That framing made sense in 2023. It's September 2026. The Strait of Hormuz has been closed for six months, 2,000 ships are stranded in minefields, and global oil supply is falling 5.7 million barrels per day. Gold isn't holding up despite higher rates — it's holding up because the Gulf is a war zone and energy markets are structurally broken.