by Jim Rickards, Daily Reckoning:
Gold spiked after last Friday’s drone strike that took out a top Iranian military official and is trading at seven-year highs.
Yes, the news was dramatic and made a major impact. But geopolitics is just one factor driving gold. Even without the latest geopolitical tensions, gold is poised for a historic run.
The first two major gold bull markets were 1971–80 and 1999–2011. Today, gold is in the early stages of its third bull market in 50 years.