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With a 92% probability of a Fed rate hike this week and the 10-year Treasury yield breaking 5%, why hasn't it crushed gold?

With a 92% probability of a Fed rate hike this week and the 10-year Treasury yield breaking 5%, why hasn't it crushed gold?

Despite soaring expectations of a Fed rate hike and US Treasury yields breaking the psychological barrier of 5%, gold has not been crushed. This reflects the struggle between geopolitical risk-driven inflation hedging demand and interest rate pressures, revealing the deep-seated contradictions in the current macroeconomic environment. The rapidly deteriorating situation