Holmuze's agreement is at first light

On Wednesday, 5 August, at the Astro Disk, cash gold was delivered in a narrow zone, as the interim agreement in the Strait of Hormuz was expected to be reached, easing inflation concerns and reducing the possibility of the Fed raising interest. Qatar indicated that a proposal had been drafted to help normalize commercial shipping through the Strait of Hormuz, and United States and Iranian officials had indicated that progress had been made in the negotiations to reopen this critical energy transport waterway. Oil prices fell for the third consecutive day, influenced by optimism about agreement. The market is now fully priced at a rate of interest that will rise once in the year, and just last week is close to a rate increase twice. Declining monetary austerity usually benefits unsustainable gold. According to Nicky Shiels, head of MKS Pamp Research and Metal Strategy, “gold is a mobile sponge in the macro-commodity field, which is one of the first assets to be hit when any austerity risk signals (both structural and informative) emerge.” Kim Xian