Gold caught in a three-way tug-of-war (opens the source in a new tab)
- The Fed’s 16 Sept hike should have sunk gold; it didn’t
- Debt fears and geopolitics are pulling prices up
- The Gulf war cuts both ways: dearer oil hurts gold, fear helps it.
- $40T
- US debt, 17 Sept
- 2.68%
- US real bond yield
Why it matters No single signal moves gold any more
Other side High real yields and a strong dollar remain the classic case for gold to fall from here.