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Callistemon
Oil bounced from $89 to above $100 this month. Gold slid from 4,400 to 4,017, below the 4,053 level it never reclaimed. Strange, with Iran tensions unresolved? Not really. With 84% odds of a December hike and the 10Y near 5%, gold’s real competitor isn’t fear, it’s yield. Oil is pricing the war. Gold is pricing the Fed. Right now the Fed is winning. NFA.$XAU
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