MacroVoices #349 Rory Johnston: Crude Oil Outlook & SPR Discourse
Macro Voices
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Investing in Gold - Is the Fed Going to Break Something?
The bear trend line that's been in place since the March peak has finally been decisively violated to the upside. The real test is going to be whether we can hold above that level through the close and then stay there. If it turns out that even after hawkish monetary policy breaks something, that the Fed still stays the course on rate hikes until inflation measurably comes under control, then this bullish optimism for gold may prove to be not wrong, but perhaps just a little bit early.
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