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.

Read the full story at KITCO →