Spot gold at $4,387/oz after July PPI posts flat 0.0%, core PPI up 0.2% - KITCO
Spot gold at $4,387/oz after July PPI posts flat 0.0%, core PPI up 0.2% - KITCO
Source: KITCO
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DW NOTE
Gold at $4,387 on flat PPI is a geopolitical premium, not an inflation hedge. The Strait of Hormuz has been closed since February, stranding 2,000 ships in the Gulf with six months of mine clearance ahead, yet oil sits $88 instead of $150. The bid is in monetary metal because nobody believes the Fed will tighten into a shipping crisis that's choking 20% of global oil supply.