The Treasury tried to stop this and it didn't work | Gold above $4,600 - KITCO
The Treasury tried to stop this and it didn't work | Gold above $4,600 - KITCO
Source: KITCO
―
DW NOTE
The Treasury can't talk down a market that's pricing structural supply shocks, not speculation. Gold is down 12% from its January peak but still at $4,681 — a level that reflects 9 vessels moving through Hormuz versus the usual 73, a 4.3-million-barrel-per-day oil deficit the IEA has called structural, and a fiscal position running 6% of GDP in red ink while the Fed holds at 3.5%. Jawboning works when the fundamentals are soft; these aren't.