The gold and silver prices are rallying, perhaps seemingly paradoxically so, given how this comes on the heels of Donald Trump saying that the Iran war will be over ‘very soon.’
The Metals Focus analysts say gold could get a bigger boost if the situation spirals out of control or if “one or more of the fat-tail risks instead crystallize.”
Even though greedy investors sucked up all of Trump’s swill, Iran clearly did not. If this was just an attempt to manipulate markets, it worked.
One headline leads to another, and before long we are jumping from war updates to oil prices, from central bank speculation to the latest move in gold or silver.
I urged gold bugs of the world to buy modest gold, silver, and mining stock positions at $5100. That’s proved to be a solid support zone for the price.
Ira Epstein covers the recent movements in the metal markets, highlighting a significant up day followed by a moderate setback.
