Why is gold price holding firm during U.S.-Iran tension? - KITCO
Source: KITCO
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DW NOTE
Gold is 22% off its January high and falling further despite fresh U.S. strikes on Iran. The Strait has been blockaded for eighteen months, oil is down 36% from its peak, and the VIX is at 15. Markets have priced in permanent crisis as background noise — the shock premium is gone.
A sharp rise in the yen has left bitcoin and other major cryptocurrencies underperforming in yen terms compared with their dollar-based trading pairs.
I've been working on another big Theory of Everything. I'm always trying to determine "How do I make sense of this?" Is all of this just what happens... the end of empire, knuckleheads get in charge, is it pure incompetence?
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Gold holds above $4,100 as Hormuz tension, yields pressure silver - Kitco PM Report - KITCO