Gold has rallied around $150 an ounce on safe-haven demand following the early-October Hamas terrorist attack in Israel. Gold this week has paused as traders size up the next major development in the Middle East. The smart money reckons the conflict will escalate before it de-escalates. That’s presently keeping a floor under gold prices. With gold hovering around $2,000, the all-time high of $2,085.40, basis nearby Comex futures and scored in May, is in reach for the bulls. During times of keener geopolitical tensions, gold will act on its own as a safe-haven asset, ignoring the key outside markets like crude oil and the U.S. dollar index that typically help to drive gold’s daily price direction. Stay tuned! Jim Wyckoff