No end in sight for the Iran crisis, and #gold and #silver took another hit today, with spot gold closing yeseterday below $4,000 at the 1:30 p.m. EST CME close.

For several weeks, I've been advocating patience and avoiding short-term trading in the precious metals markets until there is a credible and durable resolution in the Middle East. Headlines continue to drive sharp intraday price swings and frequent reversals, making it an exceptionally challenging environment for traders. The longer this conflict persists, the longer uncertainty is likely to weigh on market sentiment.

Take a look at 5 day Gold/USD chart from WatchGold.org, which illustrates the market's reaction to the latest geopolitical developments.

Views are my own and provided for educational purposes only. This is not investment advice.