Post by
MaterialsMan on Dec 24, 2023 9:58am
Stepping it up
Not that this is necessarily a good thing, but there are reports this morning that Iran is increasing its military presence in the Middle East (new long range hi tech missiles).
If this gets perceived to be of significant concern, there will likely be some fireworks in the gold market next week.
I don't believe that Christmas is a big deal to the warring parties. So, I doubt there will be a temporary break in hostilities over the next couple of days.
Usually, when geopolitical issues that may blow up precede a long holiday week end, gold makes a move just prior. Did not happen this time so maybe there is no concern.
Comment by
MaterialsMan on Dec 27, 2023 9:43pm
Hard to figure out if the increase in the price of gold this week is a result of increased hostilities in the middle east, or a response to the seeming concensus that the Fed is leaning towards a softer approach in dealing with inflation. If the gold price increases dramatically between now and the holiday week end, the former scenario is more likely the greater causation.