I think there are a few layers here. First of all, the Fed is clearly behind the curve. And their credibility has been damaged by what has happened with inflation and the monetary policy response over the last few months.
Fragile US-Iran talks: Gold rises to Rs 1.53 lakh; silver jumps nearly Rs 10,000. What’s next?
Gold and silver prices surged in India, tracking global trends, weaker dollar, and US-Iran dialogue hopes. Gold rose 1% while silver jumped 4%, amid thin