AAAU - Gold Market Report: H2 2021 Beckons

• In declining volumes, this week gold and silver drifted sideways in the dying days of June.
• With the expiry of gold’s July Comex options, half-year mark-to-market accounting and the introduction of the Basel 3 net stable funding ratio for European and American banks, there has been much to chew on, contributing to investment apathy.
• The greatest unknowns are the long-term effects on market liquidity, assuming bullion bank traders reduce or eliminate their positions, and the timescale they take to do so.
• It is sensible to bear in mind that, despite the clear trend into dollar hyperinflation, the effect on the gold price might prove unexpected at times in the second half of 2021.

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