A new day dawns with all of the same concerns in place. And you can see this reflected in Comex gold, which is back above $1570 as I type.
With relative calm prevailing in the MENA yesterday, there was a growing sense of relief that perhaps the region would step back from the abyss. At one point last evening, the Feb20 gold traded as low as $1557 in reaction. However, it has since become clear that an Iranian response to the events of last week is still pending...and both CDG and CDS have bounced.
Again, this is nothing to root for or get excited about. No one wants to...
