Checking with top people at the Rhoads family reunion this weekend, the feeling is that Gold is moving up, that is if more buyers than sellers show up. In reality the published pundits seem to have a bearish outlook for the yellow metal. As for me, I just hope it breaks out in one direction or another since that will result in high volatility and I’m all about that.
Oil seems to be hovering over the $100 level, which sounds high to passive commodity observers, but is lower than where we have been this year and seems to be holding steady.
The GVZ curve appears to expect more of the same as far as GLD being range bound. However, the ‘bump’ in the OVX curve that is the August future makes me wonder if that market is bracing for the next conflict and expecting it sooner rather than later.