Market Snapshot: Dollar Down, Gold & Oil Up!!!
The US Dollar is weak near 98.84, pressured by US Treasury bond buybacks and joint intervention with Japan. This weakness is pushing Gold above $4,600/oz and Silver near 70/oz, as investors lose faith in the dollar amid soaring US debt.
Oil prices are climbing again (Brent 94, WTI 87) because of new US sanctions on Iran coming Monday (Aug 24). Iran’s tough stance on the Hormuz Strait keeps supply risks alive.
For interest rates, the Fed is unlikely to cut in September. The real focus is Chair Warsh’s speech at Jackson Hole this Thursday (Aug 28). If he sounds dovish (soft), the dollar will fall further and gold may hit 4,700. If he sounds hawkish (strict), the dollar could bounce back to 100.
Geopolitics remains the wildcard. Some tankers passed Hormuz recently, but Monday’s Iran sanctions announcement could swing oil sharply. Watch Monday’s Iran news and Thursday’s Fed speech—they will decide if gold breaks higher or the dollar recovers.
Thankyou
#MarketMeltdown #BTC #GOLD #Silver #oil
The US Dollar is weak near 98.84, pressured by US Treasury bond buybacks and joint intervention with Japan. This weakness is pushing Gold above $4,600/oz and Silver near 70/oz, as investors lose faith in the dollar amid soaring US debt.
Oil prices are climbing again (Brent 94, WTI 87) because of new US sanctions on Iran coming Monday (Aug 24). Iran’s tough stance on the Hormuz Strait keeps supply risks alive.
For interest rates, the Fed is unlikely to cut in September. The real focus is Chair Warsh’s speech at Jackson Hole this Thursday (Aug 28). If he sounds dovish (soft), the dollar will fall further and gold may hit 4,700. If he sounds hawkish (strict), the dollar could bounce back to 100.
Geopolitics remains the wildcard. Some tankers passed Hormuz recently, but Monday’s Iran sanctions announcement could swing oil sharply. Watch Monday’s Iran news and Thursday’s Fed speech—they will decide if gold breaks higher or the dollar recovers.
Thankyou
#MarketMeltdown #BTC #GOLD #Silver #oil