Despite the continuing consolidation, there are few gold sellers. Any pullback is already bringing buyers.

We are seeing forecasts of gold price rises moving towards four figures from hallowed institutions. This gold market is broadening significantly.

The real driver of the gold price continues to be lack of selling, leaving a small volume of investment/speculative buyers calling the shots.

The funds like to 'whip up the surf,' which is where Iran enters the picture.

The market lacks certainty and awaits something or someone to take the lead.

There is huge demand out there at the lower levels still, with the funds holding, but prepared to sell on the fall -- that's what consolidation is about. The resolution of these pressures can only make a market healthy.