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Mideast tensions are heating up as Iran Shoots Down US Drone: "You'll Soon Find Out" if US Plans Strike Says Trump.

I expect cooler tempers will prevail but who knows?

US Treasury Yields

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Gold Above Major Resistance

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Gold convincingly blasted above major resistance in place for three years. Gold needed to top $1377.50 and did. It closed at $1396.90.

A test of the $1340 to $1370 area from above is now likely. If it happens, buy the dip.

Mike "Mish" Shedlock