It’s been a big week for Gold and it’s no coincidence that it’s also been a big week for War too. We saw a big run up in the Gold (and Silver) price as the threat of expanded conflict in the Middle East grew through the week and then there was a big selloff on Friday. Gold and Silver both dropped hard in the last hours before the market closed. Then over the weekend...Iran launched it’s strike on Isreal with financial markets not trading, so what does that mean for Monday when the markets re-open?
The Friday sell off could have just been a bit of Profit Taking, or it could have been a pre-emptive Sell-The-News type event from insiders who knew what Iran was about to do over the weekend. Monday is going to answer that question for us, but one thing is for certain – It’s going to be a big day for the markets when they re-open. Israel now has it’s Casus Belli so things could be about to get even crazier.
Writing about War is always a bit tricky. For the record - I am staunchly anti-War and I am horrified by what has been going on in the Middle East (for decades now) as well as Ukraine in recent years. To my way of thinking it is only evil people who bang the drums of war and we have a fair few of them in charge of things these days.
However, I am also a Realist and a Pragmatist, so while I have little power or control over global geopolitics – I CAN control my own circumstances to some degree and that’s why I am a Stacker. If the world is going to shit then I want to make sure that my family doesn’t get swept into the sewer with it.
History is great guide for surviving in times of conflict so I’m adding this book to my reading list.