Commodities Analysis by Stewart Thomson covering: XAU/USD, XAG/USD, US Dollar Index Futures, Gold Futures. Read Stewart Thomson's latest article on Investing.com
Coincidence or not the next phase of the war cycle and a major gold price rally are both now in play.
Stock market investors could push rates even lower as they panic-sell the stock market and panic-buy bonds. That would be more good news for gold.A look at silver. While silver does best in an out-of-control inflation environment, it’s showing good performance versus gold as Israel and Gaza take the lead war cycle baton from Russia and Ukraine.
Now, with Saudi arch-enemy Israel suddenly at war with Hamas in the Gaza strip, the Saudis could kill the deal. If they killed it publicly and with fanfare, oil could shoot past the key round number of $100 Both RSI and Stochastics are showcasing a classic bullish non-confirmation with the price, and the BPGDM sentiment index is wallowing at about 10 where major rallies have begun in the past.
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