Gold is attempting to form a near-term base, with technical signals on the daily chart turning increasingly constructive. However, options traders remain cautious, with demand for downside protection rising and implied volatility beginning to lift from recent lows. The next move may hinge on whether markets continue to price in hopes of a peace deal between the US and Iran. The latest hopes of a peace deal between the US and Iran weighed on the US dollar on Thursday, helping gold carve out what could become a swing low. But how many times can markets watch the same story unfold and expect a different ending? ... (full story)