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Many would expect that, in light of the current conflict in the Middle East, the #oro would soar as the "safe haven" par excellence. However, we are seeing the opposite. Why? Here I explain the 3 factors that are moving the board this month:
Oil and the "Trap" of Inflation 🛢️: With oil surpassing $110, global inflation has reignited. This has forced the Federal Reserve (Fed) to announce that it will keep interest rates high for longer than expected. When rates are high, gold (which does not pay interest) loses appeal compared to treasury bonds, which are now more profitable.