After a Q1 that exhibited heightened volatility, the gold price has been more stable during Q2, trading in a range between US$4,483/oz and US$4,842/oz. The Iran conflict has dragged, with markets still pricing in some form of peace agreement allowing for the relatively free flow of trade through the Strait of Hormuz over the short-term, supporting a re-normalisation of trade. Gold is now up 5% YTD to US$4,531/oz, with silver up 7% to US$76/oz. The Gold:Silver ratio is 59:1, compared to the long- ....
