What’s behind the gold’s rise?

There’s a new crisis afoot and gold is at its centre, confirmed by rising bond yields, and the end of hopes that interest rates will fall.

Today, in a note to subscribers Ross Norman of Metals Daily admitted that:

“The rally in the gold price has left me non-plussed ... who is behind it and why? Rather like an Agatha Christie murder-mystery novel, with evidence thin, the culprit or cause may be deduced by excluding what it is not ... and what remains, is. 

Spoiler alert ... I am really not sure of the answer but follow me ... it's fun anyway.”

Ross has probably been the most frequent winner of the LBMA’s annual price forecasting competition. He has an uncanny knack of reading gold and silver markets, based on his in-depth knowledge of what the bullion banks are doing, the channels and methods which central banks use to accumulate bullion, etc. He’s the ultimate insider.

If Ross is non-plussed, it is significant.