$XAU breaks below 4,000; Dow drops 652 points
U.S. stocks close: Dow -1.23% at 52,215, S&P 500 -0.52%, Nasdaq down just 0.21%.
Oil was the main story today: posts on X say Houthi forces attacked Saudi Arabia. Brent closed at $116.72, its highest level since April; Binance CL crude oil perpetuals at 103.88 (+4.3%).
Gold, meanwhile, fell below 4,000, with XAU perpetuals now at 3,999 (-0.8%).
Crypto is taking it in stride: BTC 80,970 (-0.4%), ETH -0.2%, while MSTR is up 1.1%.
My take: Higher oil prices are pushing up inflation expectations, and with the Fed’s rate decision coming next week, money is sitting on the sidelines—not moving into gold or BTC.
Which will break below its key level first next week: gold at 4,000 or BTC at 80,000?
#U.S.Stocks
This content does not constitute investment advice.
U.S. stocks close: Dow -1.23% at 52,215, S&P 500 -0.52%, Nasdaq down just 0.21%.
Oil was the main story today: posts on X say Houthi forces attacked Saudi Arabia. Brent closed at $116.72, its highest level since April; Binance CL crude oil perpetuals at 103.88 (+4.3%).
Gold, meanwhile, fell below 4,000, with XAU perpetuals now at 3,999 (-0.8%).
Crypto is taking it in stride: BTC 80,970 (-0.4%), ETH -0.2%, while MSTR is up 1.1%.
My take: Higher oil prices are pushing up inflation expectations, and with the Fed’s rate decision coming next week, money is sitting on the sidelines—not moving into gold or BTC.
Which will break below its key level first next week: gold at 4,000 or BTC at 80,000?
#U.S.Stocks
This content does not constitute investment advice.