Gold jumps on geo-political concerns

With a Malaysian jet apparently shot down, and continued battles in Israel, Gold caught a rather strong 'fear bid', settling higher by a rather significant 1.7%. Near term outlook is somewhat mixed.


GLD, daily

Summary

Certainly, some sig' gains for the precious metals, but in the grand picture.. the gains really aren't that major.

The broader multi-year trend remains to the downside, whilst there is still a small (if decreasing) chance of Gold attempting to back test the broken $1500 threshold.