Maybe with all the monetary stimulus and other catalysts, oil and gold were just itching for a reason to go higher, but on Thursday morning oil convincingly launched higher on news that Iran shot down a US drone. Gold, which had rather mysteriously spiked earlier on Wednesday night stayed elevated, even as copper, platinum and palladium all tumbled back lower throughout the day. The drone shot down was a very advanced, and large version equipped presumably with the latest and most advanced spying and detection hardware. This action moves us a few notches closer to an actual shooting war with Iran.
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