00:00So Jack what is the main driver here for for gold because it's really been trading in a pretty tight
00:04range since falling in the early days of the
00:07Iran war. And I'm not sure what it is that traders are zeroing in on here. Yes well I mean
00:14I think like a lot of the rest like a lot of the
00:16rest of the market gold has been in something of a holding pattern really for a prolonged period of time.
00:22I think since the outbreak of
00:23the war at the dominant driver has been rates on the dollar and that big kind of run up in
00:30yields that's been weighing on the precious
00:32metal. Obviously it doesn't pay you anything. So when rates are high that's not good for gold. So really I
00:38think much like the rest of the
00:40market it's traders you know assessing these watching these headlines coming through on you know a potential breakthrough or not
00:47in
00:48these in these discussions between the United States and Iran. And that I think is the main focus at the
00:55moment and that's
00:55what's driving the price. Very quickly Jack how much of this is spilling over into silver or does that remain
01:00in an entity on its
01:02own. The silver has been incredibly volatile and silver along with copper and some other metals have been kind of
01:09pulled
01:09into this broader AI trade as well. And that's really driven volatility.
Comments