From Credit Suisse (names redacted):
Few things on GOLD’s move – My colleague  hearing Egypt's banned Muslim Brotherhood movement has unveiled its plans to scrap a peace treaty with Israel if it comes to power (per a deputy leader in an interview with NHK TV)
And my other colleague  pointed to the $2.5~3b notional that was bought in gold futures through the intra-day high of $1,338 - was bought over ~5min.......
VOLs haven’t budged, so NOT seeing much protection being bought, but Gold telling something else.. Will keep u posted if I hear anything else.
Is gold once again the geopolitical canarie in the coalmine?