Gold and silver fell in Asia on hopes of a peace in Israel. Only peace will cause a temporary sell off in gold and silver. If not then, price will be very volatile.
There are no major US economic data released this week. Israel, its new developments and significant change in geopolitical shift will dictate price of gold, silver, and crude oil.
Gold's rally was safe haven buying but U.S. treasuries also rallied (prices rose, yields fell) as they too are a safe haven. The stock market's next move is open to interpretation.
Gold remains ridiculously undervalued at 1946. This is -48% below the Dollar debasement value of 3725. Given historical price-to-value reversion, 3725 shall eventually be reached.
Sentiment, my friends, is what drives gold up and down. Not the Fed easing cycle, inflation, manipulation, or the myriad of other reasons the media gives as to what drives gold.
