THE FED JUST BECAME GOLD’S BIGGEST PROBLEM. Gold is down around 1.1% near $4,296 as markets digest a much more hawkish rate environment. The Fed raised rates

THE FED JUST BECAME GOLD’S BIGGEST PROBLEM. Gold is down around 1.1% near $4,296 as markets digest a much more hawkish rate environment. The Fed raised rates 25 bps last week, and policymakers continue to signal that inflation may require additional tightening. That matters. Gold pays no yield. …