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Wall Street bereft of bears after gold smashes $4,600/oz, Main Street bolsters bullish majority with Warsh, PCE in focus - KITCO

Source: KITCO

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DW NOTE

Gold at $4,677 is 12% below its January high of $5,318, not breaking out — it's recovering from a drawdown during an active multi-front war with the Strait of Hormuz closed and oil supply down 4%. The bullish "consensus" formed after the asset had already fallen from peak crisis pricing.

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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