Gold traded more like a meme stock than a traditional safe haven on Thursday, with a near $100 surge unfolding in the space of minutes in early Asian trade, briefly lifting prices towards $5,600 before reversing just as sharply. The speed and scale of the move came across as capitulation watching it live, likely amplified by thin liquidity during the handover between North American and Asian sessions. While the move began around the same time a CNN report emerged suggesting the US is weighing fresh military strikes against Iran, you would argue that risk should already be largely in the price given geopolitical ... (full story)