Gold: The Big Surprise
The big surprise in the world of gold thus far this year has been the metal’s lack of price volatility. This despite:All the uncertainty associated with a new, and somewhat maverick, president in the White House compounded by a dysfunctional and highly political Congress,The coming withdrawal of Britain from the European Union and the possibility the French will follow suit by pulling out of the EU too,The rising tensions between Russia and the United States on two fronts (Ukraine and Syria),And, most recently, rising North Korean bellicosity, the real possibility the North will gain nuclear arms capability, and the risk of all-out war (accidental or intentional) in the East Asian region.
There was a time when any one of these developments would have been enough to send the gold price skyward. But, apparently, no longer.
Instead, the gold market seems to shrug off these developments, keeping its eyes focused o…