Anticipation ... p-p-p-p patience ... short term The G20 meeting is June 28th. It looks like there will be post meeting announcements with positive vibes concerning the China/U.S. trade negotiations (true or not). Closely thereafter business news pundits are expecting a Fed interest rate decrease to keep the party going. After over 123 months of stock market goosed growth and now a melt up in play, many theorize that a blow off market top will be in play. The timing of all this is somewhat anxiety provoking. Will July be the real spark for the now established bull market in gold and silver?
Then there are the technicals. Here is a very nice presentation today from Chris Vermuelen. He is expecting a pullback soon.
https://www.thetechnicaltraders.com/precious-metals-breakout-rally-or-reversal-time/
… and another sample: https://www.24hgold.com/english/news-gold-silver-will-gold-breach-1-400--more-importantly-will-it-hold-.aspx?article=16609629144H11690&redirect=false&contributor=Rory+Hall
Then an interesting article at GATA:
“In a most important study, Bullion Star researcher Ronan Manly today lays out the evidence that the various central bank gold agreements of the last 20 years have been the mechanisms of hiding in plain sight central bank intervention in the gold market to restrain the monetary metal's price and redistribute gold reserves to central banks that had a more compelling claim to them.
Manly's research supports the hypothesis offered in 2012 by the U.S. economists and fund managers Paul Brodsky and Lee Quaintance that central banks were redistributing gold among themselves in anticipation of a necessary devaluation of the U.S. dollar so that governments holding excess reserves in dollars would be hedged when the time came:
https://www.gata.org/node/11373
Will the ongoing short squeeze in gold see a positive close today? The behind-the-scenes-fight must be something. Who/where/what will present enough physical to the markets to impede the rally? What about all those ‘Exchange for Physicals’ games?