Gold & silver are up about 1% on the disturbing news of a US missile launch into Syria.
This is an especially dangerous situation since there are Russian military assets on the ground in Syria. In the case of casualties for one of the biggest nuclear powers in the world, one can only guess what hazardous escalations could take place. If these tensions in Syria which now indirectly involves two of the worlds nuclear superpowers of the world does not end swiftly, I would guess that gold will continue to be supported by increasing war anxiety around the world. This is the least preferred cause for a gold price rise a gold bull would want. Let’s hope cooler heads will prevail.
- Today’s front page of The Wall Street Journal: