Gold is holding a key support level so far in its recent rebound off the lows.
The 50 Day Moving Average remains a formidable overhead obstacle.
Physical supply in the west remains tight with two weeks before the August delivery period.
"The more power a government has the more it can act arbitrarily according to the whims and desires of the elite, and the more it will make war on others and murder its foreign and domestic subjects. Power will achieve its murderous potential. It simply waits for an excuse, an event of some sort, an assassination, a massacre in a neighboring country, an attempted coup, a famine, or a natural disaster, to justify the beginning of murder en masse."
R. J. Rummel, Mass Murder and Genocide, 1994