Dollar and Oil Pull Gold Opposite Ways Before the Fed — SkimNews
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- Gold retreated as the dollar strengthened, while traders braced for the Fed.
- Gold rose as lower oil prices eased inflation fears ahead of the Fed meeting.
Why it matters: The dollar-led retreat is not the whole picture: lower oil prices are tied to easing inflation fears, Amundi says the worst is over, and gold flirts with $4,000. For traders, the immediate setup is two-sided, with other coverage reporting continued buying despite a 25% crash as the Fed meeting approaches.
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