June WTI crude oil jumped more than 3% Tuesday after Trump dismissed Iran’s proposal and said the ceasefire was on massive life support. That move matters for gold in a specific way that is easy to miss. Higher oil does not help gold right now. It hurts it. Higher oil feeds inflation. Higher inflation keeps the Fed pinned.A Fed that cannot cut is the single most bearish factor for Spot Gold (XAUUSD) in the current environment. I’ve been saying this since February and Tuesday confirmed it again. The gold spe ...