it's clear the gold futures market is full of speculators at the moment.
Heaps of them would have got stopped out last night as it crashed like nearly $100 from $1970 down to $1870.
I reckon this was just a shakeout and gold will go higher because if you look at GDX and individual gold companies like NEM, GOLD and GFI they are looking good technically and fundamentally (good earnings).
Also, war is inherently inflationary so it's going to exacerbate existing inflation even further.
If the Fed comes out next month and says: "We're going to hold off on rate rises until geopolitical tensions simmer down", gold could rise to $2000 real quick....
Mis-priced Stock, page-606
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