Tensions With Iran Drive Gold Prices Higher

gold chart
Written by Mike Hammer

Every gold follower soon learns that geopolitical instabilities are a big driver of gold prices. When there isn’t much turmoil in the big world – meaning the physical world, not the paper-pushing financial markets – investors flock to safe havens for security. And that’s exactly what we’re seeing right now in gold.  Uncertainty created by open conflict between the US and Iran caught the eye of investors, who apparently managed to look up from their pip-screens long enough to realize there is an actual shooting conflict going on.

Last week Iran not only shot down a US drone, they admitted they did it. And gold went POP! International gold prices broke through 1400 USD this morning and there are signs it may stay there, at least for the present. You can read more about the Iran situation from the market’s point of view in today’s featured article.

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About the author

Mike Hammer

Mike Hammer has had a wide-ranging career, with trading and investing as continuing themes. Mike graduated with a business degree and spent years as a financial advisor, before moving to New York and to pursue a career in IT and education. For more than a decade Mike has been working with the Adam Mesh Trading Group as a stock market and commodities mentor. He’s trained over 200 individuals, spoken at several national conventions, and is a frequent contributor to educational webinars.

Mike writes The Gold Enthusiast daily newsletter, runs the Golden Hammer trading service, and participates in the Mesh Private Portfolio. He also keeps a position in international education which keeps him in touch with "the student mindset".

Mike focuses on the precious metals markets, the energy industry, and the financial sector. His motto is "Plan your trade, then trade your plan!"

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