The bottom line is that a technical trifecta is in play. The Dow, gold, and GDX are all hitting support with oscillators showcasing buy signals... at the same time.
SB 424 would have created a government-run gold depository, investment, and payment offering, even though these services are already widely available in the private sector.
Gold today at 4490 is nearly equidistant between its BEGOS Market Value (5260) which has just begun to descend, and its Fair Value (3926) which is in ascent.
Gold looks way more bullish today than pre-war. Iran will never surrender, and has plenty of asymmetric-warfare options to keep the critical Strait of Hormuz largely shuttered indefinitely.
Ira Epstein discusses the current state of the metals market, highlighting a late-day bounce in the stock markets, with the S&P and Dow both showing significant gains.
