Gold or Oil? History Shows Which Hedge Protects Capital When Inflation Fear Returns
Brent crude hit $126.41 a barrel, its highest since March 2022, before falling to $113.89 as the U.S.-Iran war shut the Strait of Hormuz. Spot gold rose 2.2% to $4,639.26 an ounce. U.S. PCE inflation climbed 3.5% year-on-year in March. The Federal Reserve kept rates steady at 3.50%-3.75% on Wednesday.