March 14, 2025 - (Gold Market Wire) - Gold finally broke through resistance at $2953 and rapidly spiked to $2989, as the bulls wrest back control of the market. $3000 an ounce is just a step away now.

For those wondering why the suddenly cheaper US Dollar hadn't led to a continuation of the rally, you have the answer now. It was just a matter of time. Nothing moves perfectly in a 1:1 ratio.

Our leveraged Dollar length has been a painful place to be, and we have not cut the position. We remain firmly of the belief that the Euro's problems are orders of magnitude bigger than that of the US Dollar, and that the Dollar may just have been collecting energy for what may next be the challenge at $1.0230, which should see the start of a serious Euro breakdown. We still believe that is coming. Like him or hate him, Trump is running rings around the European (UK included) nations, who are 1) defenceless; 2) Without Energy and 3) Hellbent on destroying themselves through extreme wokery. Europe probably has a nascent "MAGA" -style movement somewhere, but the recently pathetic outpourings of Nigel Farage does indeed show that he is little but controlled opposition, and not a serious player for the radical reform Europe needs. Europe is likely to implode before the recognise the radical remedy that is needed.

Our reticence in looking for a top has been misplaced - mea culpa. But our core position, and lack of any active Gold short has kept us solidly in the game. War premium exists, but really, given Putin's response on a cease-fire, there should have been some kind of sell-off. It is worth noting, in our slowly established stagflation world of the West, that it was almost a full 5 years after the end of the Vietnam war, that Gold peaked. Meaning? Post conflict environments can be very good for Gold.