Markets

Why Is Gold Not Doing Better? - Robin J Brooks | Substack

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DW NOTE

Brooks asks why gold isn't higher amid Middle East chaos. Perhaps because the Hormuz closure is eight months old, oil is *down* 21% from its peak, and the ceasefire in Lebanon has held for six months. Markets don't pay for risks that have already crystallised and stabilised—they pay for deterioration, and nothing here is deteriorating.

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The Indian crude basket hit $123.29 per barrel last week, approaching levels recorded in March 2012, and adding 86% to the price Indian oil marketing companies pay, local media have reported, also noting the effect of a cheaper rupee. Since Indian companies pay for the oil they buy from abroad in U.

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Why Is Gold Not Doing Better? - Robin J Brooks | Substack

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