Jun 24, 2025, 22:47
Following what now appears to be a phony-war, neither the oil price or gold responded very much at all.
Now that a ceasefire has been announced, gold has been ground down throughout the day.
But as Jimmy Stewart said, in "It's a Wonderful Life", "Potter's not selling; Potter's buying".
The recent bunker buster bombing of Iranian nuclear facilities by B2 bombers on Sunday morning (conveniently when markets were closed), risking escalation to a nuclear war has seen gold prices fall by 2%. So much for a safe-haven. What to make of this ???
Firstly there is something a little odd about this 48 hour “war” … I am left with a sense that we have just been treated to some geopolitical theatre. Cynic that I am.
. . .
I think we have just been played.
- ROSS NORMAN : Bombs drop … dollar drops … gold drops (???)
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