Israel cabinet is to meet in an hour to decide on their response to the Iranian strikes.
Biden is not in favour of any further escalation because he does not want oil price to skyrocket. Iran holds the key to close the Straits of Hormuz, and that would be a disastrous outcome for the global economy.
For the sake of maintaining peace and prosperity, it should be our hope that Netanyahu elects not to respond. But since when has Netanyahu listened to Biden? If that had been the case, the Gaza war would have ended and we would not have got to where we got today.
Much of what happens to markets follows from the Israeli cabinet decision.
Gold is already is in good place now with interest above $2400, and there is a lot of pent-up demand for it when it starts trading at 9am AEST, and even if it stays about the closing price on Friday, we should expect huge buying interest when China opens about mid-day.
When this thread provided the opinion of a window of opportunity on Gold and Silver early last week, many were expecting correction, now some are still expecting a correction. My thinking is I could be a $100-200 wrong at best to the downside, but should it shoot up to $2500, the people expecting a correction would no longer want to buy, and they may not buy it anymore. Dollar cost averaging IMO is the best approach, meaning buy some and if it goes lower, buy more but if it goes higher, buy more. That was what I did over the past months and weeks, buying more as it goes higher. The consensus view is that we've kind of crossed the Rubicon, gold and silver will compete against the USD for supremacy.
And with the wars on two fronts, US will be issuing more debt to fund the wars and will resort to money printing - this is what the CBDC is about- hey presto new money- and soon more will join the bandwagon of diversifying away from fiat towards hard store of wealth- Gold and Silver. I am sure the very wealthy are already on board and accumulating more.
