by Lawrence Williams, MineWeb.com
The confluence of disturbing geopolitical events continues – and we’re only two weeks into the New Year.
A supposed ancient Chinese curse, almost certainly apocryphal*, which has been doing the rounds for many years is “May you live in interesting times”. These are interesting times indeed as a confluence of geopolitical events threatens to drive the gold price ever higher. Apart from the ongoing Russia/Ukraine disputes, which may, or may not, involve the Russian military, and ISIL’s apparent expansion of action from Syria and Iraq, where it controlled vast swathes of territory, into Afghanistan (interestingly bringing it into conflict with the Taliban), a couple of reported events today suggest the scary start to the year is continuing with a potentially very positive effect on Safe Haven demand for gold. Add substantial nervousness in the general stock markets after a steady rise over the past few years and you have a recipe for a take-off in the gold price perhaps foreseen by the Elliott Wave analysts we’ve reported on in these pages in the past.
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