Markets

Spot gold bounces to $4,470/oz after Philly Fed survey rises to 47.4 in August - KITCO

Source: KITCO

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DW NOTE

The Philadelphia Fed's manufacturing index doesn't bounce to 47.4 — that's an expansion reading gold bulls haven't seen since 2021. If factory activity is genuinely recovering while the Strait of Hormuz sits closed and oil supply structurally down 4.3 million barrels per day, something in that survey is measuring sentiment, not shipments.

Read the full story at KITCO →

For the first four months of the war between the United States and Israel and Iran, oil traders remained largely bearish. The overwhelming expectation was that the war would end soon—even as July rolled around—and oil flows out of Hormuz would recover. Instead, the world is slipping into a fuel shor

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Spot gold bounces to $4,470/oz after Philly Fed survey rises to 47.4 in August - KITCO

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