This stampede, led by hedge funds and "algos" (automated computer buy/sell programs based upon volume flows and trigger price points) involved dollar amounts substantially eclipsing the record set during the 2008 global panic.

The price of gold rose to a 6-year high, left a series of gaps on the way up, and smashed through all sorts of technical "resistance" points on traders' charts around the globe.

At the same time, silver – almost unnoticed because its rise was relatively muted – broke out on the strongest volume since 2011, printing its second highest Up Volume ever!

So what is going on? When a major market movement like we witnessed in late June takes place, everybody looks for an answer. And everyone has an opinion.

But the only opinion which really matters – that of the Market – usually takes a while to reveal itself. David Morgan with a track record in resource sector prognostication as good as any in the business, never fails to remind his readers who the real guru is: Mr. Market him/herself. David wrote,

I certainly have my opinions, based upon decades of trading, research, and experience. But no matter how strongly I feel about a given situation, I never hesitate to step back and see if price action supports what I think is taking place.

Whether you're an individual investor, a giant brokerage firm, even a sovereign wealth fund, or a central bank, it helps to keep in mind the fact that - sooner or later - the market always has the final say.

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