The recent gold selloff increasingly resembles forced sovereign liquidity management, while waning growth could force the return of dovish central bank policy, driving the next stage of the long-term bull market, according to Stephen Innes, managing partner at SPI Asset Management. In a new analysis published Monday, Innes said the outbreak of the Iran war saw gold trade “like a market caught in a temporary margin call from the physical world” rather than an asset that had run out of momentum. “The panic that swept through bullion after the Strait of Hormuz shock was never really about investors suddenly losing faith ... (full story)