Sentiment now positive for gold

There’s a sea-change underway in investor attitudes towards gold and silver. Markets now see growing risk to the dollar as a consequence of oil supply disruption.

When America first attacked Iran on 28 February, gold and silver prices declined: gold from $5320 and silver from $93. Admittedly, both were vulnerable to a severe bout of bull market indigestion which was hardly propitious. But the suggestion of deferred interest rate deductions appeared to work against precious metal prices. Meanwhile, the equity and other bubbles continued to be inflated by free-flowing credit.

Just about the only sensible arguments as to why this was the case veers towards conspiracies: bullion banks using febrile investor psychology that they should