Gold will fly from now on wards along with oilA direct show down is brewing between the two largest opec oil producers with Iran sending an armada to the Gulf of Aden from which more than 30% of crude passes. America while providing logistic support to it's protege Saudi Arabia is taking almost middle ground for fear of jeopardizing Obama's pet project of seeing the Iran nuclear deal to conclusion and who cares if the two arch enemies Saudia and Iran fight it out, we will side with the winner and make sure our contractors get the rebuilding contracts. Add Ukrsine, Syria and the Russians flexing new found muscles we are on the verge of large scale conflicts where paper currencies may cease to be accepted as trading vehicle. Paper currencies value is backed by trust only which does not carry much weight if one is not sure which country will be in chaos tomorrow.
for starter next week we could see gold at 1260-1270, hopefully