The gold and silver prices were both down this past Thursday, as it seems like Wall Street’s finally starting to realize that we might not really be close to a resolution with the Strait of Hormuz, and, of course, also the war.
The gold futures are down $44 to $4,708, and the silver futures are down $2.51 to $75.44, while crude oil is up $4 on the day to $97.
TRUTH LIVES on athttps://sgtreport.tv/
For another day, the Strait of Hormuz remains very closed. And in the past few hours, we got perhaps one of the clearest indicators yet of why this situation is very unlikely to be resolved any time soon. This, of course, has profound effects on the global economy, and the resulting paths for the next leg of the precious metals markets.
As I’ve tried to suggest as delicately as possible over the past two months, because I fully appreciate that there’s a lot of sensitivity and emotion around this issue, as I’ve continued to research the dynamics of the situation, the big problem I found with a resolution was that, while I do believe Trump would love an off-ramp, and that Iran would be happy to end this as well, it’s never seemed like Israel has any desire to do so. Netanyahu has made that clear, their violation of the ceasefire made that even more clear, and now this statement below from the Israeli Defense Minister makes it even more clear than that, if such a thing is possible.
I’ll leave aside my own personal opinions on the statement, but will say objectively that a change in that stance is essentially asking for a change in decades of war and intense emotion. I suppose it could happen, and I certainly wish that it would, but I wouldn’t bet on it.
I’ve continued to document both here in the column and on my daily YouTube show how the damage from the closure of the strait continues to pile up at a nonlinear rate (for more on that, here’s the YouTube broadcast where I discussed this further).
Source: SGT Report
