The yellow metal's daily chart can be characterized in two different ways, both foreshadowing higher prices ahead.
The group is in position to set up for another run.
Investors should be paying close attention to the U.S. dollar index and its 100-week moving average.
Apparently, unless the Iranian military simply does not train on their weapons, which I do not believe, the exercise was one of saving face... for now.
There are 2 trades now, depending on how you see the Iran conflict playing out.
Could gold prices could soar to $2,000 an ounce?
Interestingly, the spike in gold prices was indeed mimicked by a simultaneous spike in Bitcoin prices versus the U.S. dollar.
You asked for it, so here it is: This is where to put your money if the conflict with Iran gets out of control.
They are not an investment, per se. They are a hedge against the unknown, the uncertain.
We're certainly seeing day-to-day volatility early in the month, but I'll be interested to see how the longer-term picture looks at the end of the month.