Gold’s forced sovereign liquidations could pave the way for the metal’s next great bull run – SPI’s Stephen Innes

By Ernest Hoffman – Kitco

The recent gold selloff increasingly resembles forced sovereign liquidity management, while waning growth could force the return of dovish central bank policy, driving the next stage of the long-term bull market, according to Stephen Innes, managing partner at SPI Asset Management.

In a new analysis published Monday, Innes said the outbreak of the Iran war saw gold trade “like a market caught in a temporary margin call from the physical world” rather than an asset that had run out of momentum.