Obviously the most recent and dramatic development has been the escalation of the conflict in the Middle East. The attacks on Iran and the retaliation around the Middle East have boosted gold and silver as well as taking oil to a different level; the former reflect risk-aversion while oil is reacting to a potential supply shock. The US/Israeli co-ordinated attack followed the breakdown of negotiations over Iran’s nuclear programme. Further support came from the Supreme Court’s ruling on the International Emergency Economic Powers Act (IEEPA) tariffs and the subsequent massive rise in litigation, not to mention ... (full story)