Platinum is probably the biggest mover recently and it gained back a chunk of that yesterday, not a lot, but a chunk of it. And the markets are waiting for something.
Iraq's central bank has been steadily buying gold as part of its strategy to diversify its foreign assets but recently added 2% to its gold reserves in a single day.
The U.S. Treasury has to do a lot of funding! needs to sell $1 Trillion by the end of the year to refund the treasury, that is going to be a headwind if the money comes from bank deposits.
The debt ceiling finally passed (as expected) but then next comes the fallout. It's just a suspension then in a year and half they get to do it all over again.
The bottom line is gold’s hawkish-Fedspeak-driven May pullback has likely mostly run its course. Top Fed officials have been talking tough on future rate hikes, but now they have to..
