TRYING TO EXPLAIN GOLD'S MOVE
The 'tourist looks into gold positioning, sentiment and dusts off a Cameron Crise model
A few people asked why gold rallied so hard on Friday. Although it might be easy to say “geopolitical angst”, that doesn’t really explain why traders waited until the last day of the week to rip gold $65 higher.
There is more going on than simply concerns that the Israel/Hamas conflict will expand, so let’s dig into the gold market’s recent price action.