Lyn Alden is holding gold, but says the Fed is bailing a boat with a leaking bucket - Kitco
Lyn Alden is holding gold, but says the Fed is bailing a boat with a leaking bucket - Kitco
Source: Kitco
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DW NOTE
Alden holds gold while the Fed hikes into a supply shock — a rare acknowledgment that central banks can't print oil or fix a closed strait. The Fed raised rates 25bp on September 16 as crude sits at $92 and the Strait of Hormuz remains shut, cutting 6% of global supply. Gold is down 21.6% from its January high of $5,318, but it hasn't collapsed; it's repricing against rate hikes that can't reopen a blockaded waterway.