June 18, 2024 - (Gold Market Wire) - War in the Middle East is now permeating all market activity - and, as it always is in the geo-political realm, this is nowhere more prevalent than in Gold and Precious Metals. The market, in reflection of the growing concern about military conflagration in the Middle East, is now digging in. Our premise that $3500 is going to be challenged again, remains. But Gold never makes it easy. Right now we can see a pullback...which may have run its course.

Make no mistake - the Middle East is on a knife edge. That fact, and the conflict in Ukraine, on their own, are enough to make any thought of selling Gold delusional. And when the offer-side is weak...we go up. Right now, other than pro-market makers, very few people are inclined to stand on the offer side. The public is acqusitive and holds with an iron grip.

...none of this is bearish.