With relative calm in the Middle East apparently poised to end soon with an Israeli attack on the southern Gaza city of Rafah, it is not surprising to see gold and silver leap higher to start the new week.

While overnight news coverage of the markets suggests gold is rising off US rate cut hopes for later this year, we suspect rate cut hopes are a minimal portion of the fuel for this morning's gains.

Classic demand signals were present overnight with the Perth mint April gold sales doubled from March sales while silver sales declined to their lowest level since December...[MORE]

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