An old trick from the intelligence circles: you make Putin sound like just a spectator at a casino. $XAU dropped to 4586 and it’s still pretending to be calm—really, do you think that Iranian situation isn’t going to catch fire? Gold always goes up when things are chaotic; now it’s instead drifting downward. Either someone is quietly dumping the order book, or the market is betting on a ceasefire—I trust the former more.

$CL , on the other hand, is more straightforward: 83.36 just jumped straight up. Oil never lies—when geopolitics tightens, prices go up; it’s tougher than any politician’s stubborn mouth. I don’t know whether Putin is optimistic about the U.S., but oil prices are already casting votes for the whole world.

Anyway, I don’t buy any of those “think tank reports.” If there weren’t any hands controlling the trade behind the scenes, that’s impossible. It’s just that the script is written a bit lazy—like some second-rate spy drama.

#Gold