It's really hard to tell short term if a deal gets done. However, there is clearly appetite for rate hikes at the Fed and inflationary pressures are mounting. I definitely wouldn't write off rising interest rates yet, but I'm very long gold regardless. I don't see a medium term scenario where the gold price doesnt continue marching higher due to the grinding debasement of the USD.
US Conducts New Military Strikes on Iran, Triggering Over 4% Surge in Oil Prices Amid Strait of Hormuz Tensions
The United States launched a new series of precision missile strikes targeting multiple Iranian military sites, including air defenses and missile facilities, escalating tensions over the Strait of Hormuz. This military action, involving fighter jets, naval vessels, and unmanned sea drones, led to a sharp increase in global crude oil prices, with US oil futures rising over 4% and related ETFs surging. The conflict has also caused market turbulence, impacting stocks and commodities worldwide.
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