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.
“Thus, it should be understood that when pro-US figures use the term, 'rules-based international order,' they are not referring to anything analogous to the rule of law. Quite the opposite, they are using Orwellian language to describe a system in which essentially no rules can be established and/or observed, given that the dominant state has the prerogative to violate and/or rewrite “rules” at its whim.” Aaron Good, American Exception