There are short term trends, intermediate trends, and several big questions to which the answers still aren't clear (to me)
Are the problems in the banking sector over, or, as several have suggested, are there more surprises lurking, this time in European as well as American banks?
Is the US dollar rally sustainable, especially in light of another probable rate cut at the end of the month?
Will hedge funds, as they deleverage and meet margin calls and redemptions, sell all profitable positions, including those which have helped drive commodities so high in recent years?
Where will hot money go, if not into precious metals, should there be another crisis of confidence in banking/fiat money and the USD in particular?
The trends are interesting, and would augur for a lower price for gold. India is the world's largest consumer and importer of gold, and imports to that country have dropped sharply in recent months. Dealers say the high price of the yellow metal is deterring sales. The story is the same out of Turkey, the fourth largest importer and consumer of gold. We are also entering the summer, which traditionally has been a slow season for gold sales
At the same time, record prices are bringing in a surge of scrap as people rush to sell their jewelry.
On the other side, there is said to be less than 3 days of gold in the pipeline, and many major mines are reporting they will be substantially cutting back on production this year. We also hear of growing investment demand from India, picking up some of the slack as jewelry demand softens.
This would augur for a bullish position in the intermediate to longer term.
However, were there to be any loss of confidence in the shorter run, where would money turn? If hedge funds were rapidly selling profitable assets, how would that affect even the most attractive alternative investment?
These are hypothetical questions, of course.
Would MOS MON follow? There are those who say the food shortages are just beginning, and there is evidence in the recent one day 30% hike in the price of rice. I think the agricultural shortfalls are going to be with us through this year, probably into spring of next year, with some sectors less affected than others (like grains)
I'm on the fence there
Market Data 
Markets 
AI
