Gold rallied into the end of the day as the U.S. dollar came off its highs. But make no mistake, we remain in a headline-driven market, crude oil, the USD, Iran, the FOMC and U.S. interest rates are all capable of moving precious metals quickly.

Caveat emptor. Patience is required! I have to admit, I thought the last rally was for real, especially after Treasury Secretary Bessent’s move to buy back longer-dated Treasuries and gold’s break above its 200-day moving average. I was wrong. That doesn’t change my longer-term view, but right now, patience is the best trade on the board.

Some exciting WatchGold news as well. We are pleased to welcome Ole Sloth Hansen, Head of Commodity Strategy at Saxo Bank, to WatchGold.org, where we will be featuring his independent research and market commentary. I have tremendous respect for Ole, his knowledge of the commodity markets and his independent thinking. We are honored to have his research on our platform.

In addition, we will also be adding Max Layton, Global Head of Commodities Research at Citi, to the WatchGold platform. Max is another person whose work and market insights I have tremendous respect for, and we are very excited to bring his high-quality research to our users.

Adding respected voices like Ole and Max is exactly what we envisioned for WatchGold, bringing quality precious-metals data, analytics, education and independent research together on one platform.

The markets may require patience. WatchGold continues to move forward.