Gold closed the 2nd Quarter finishing on a high note.
Seasonally, gold tends to make highs or lows during June which may yet be the case on a CLOSING basis – not intraday.
Internal Rate of Volatility still has not reached the levels of the 1970s going into 1980 when confidence in government was collapsing and they were also hoarding toilet paper, which seems to be an indicator of periods of a decline in public confidence.
We still expect to see volatility rise during the 2021-2022 period which may match the late 1970s. Cyclically, for gold to close above the June high points to (!) a rally into July. What we expect to see for the elections significantly rising tensions and violence after a potential high in July followed by a retest of support into September, and then rising Gold prices again thereafter into the elections.