There are still plenty of geopolitical risks out there, and that of course does favor gold. The fact that we recovered also favors gold, but that should not be a huge surprise considering that the Americans bombed the Iranians over the weekend, and people will be looking to protect their portfolios. Furthermore, we had already seen a massive bullish run previously, so it does make a lot of sense that traders trying to continue that run higher. In other words, it is “business as usual.” If we break down below the bottom of the candlestick for the trading session, then we could open up a move down to the 50 Day EMA, ... (full story)