Here is a possible explanation for the sudden move in the metals -
Approx 6 months ago, Jim Rickards suggested that the IMF was planning to go live with a mechanism by which countries (their central banks) could begin swapping their dollar reserves for SDRs. The key to this mechanism is that it's a direct swap, and avoids having to first sell the dollars onto the open market (which would risk crashing the dollar).
Rickards was sketchy on the details (I'm not a paid subscriber), but he suggested that the end of March could be the beginning of this program, but then it was apparently delayed until the end of June (approx), and that would coincide almost exactly to the sudden big breakout in gold.
We know the plan is to eventually have the SDR as the world's reserve currency, and the US dollar won't be suitable for that role forever. The question is when will this change occur, what will be the nature of the transition, will it be prompted by a crisis, etc.
If the IMF has in fact gone live with the dollar to SDR swap mechanism, lots of people at the top now know about it (all the central banks), and that would explain the big move in gold since May. The obvious conclusion would be that the US dollar's days as the world's reserve currency are ending, so it's time to get out of dollars. The US population will be the big losers in this transition to the SDR.
