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This marketing document has been issued by Bank Syz Ltd. It is not intended for distribution to, publication, provision or use by individuals or legal entities that are citizens of or reside in a state, country or jurisdiction in which applicable laws and regulations prohibit its distribution, publication, provision or use. It is not directed to any person or entity to whom it would be illegal to send such marketing material. This document is intended for informational purposes only and should not be construed as an offer, solicitation or recommendation for the subscription, purchase, sale or safekeeping of any security or financial instrument or for the engagement in any other transaction, as the provision of any investment advice or service, or as a contractual document. Nothing in this document constitutes an investment, legal, tax or accounting advice or a representation that any investment or strategy is suitable or appropriate for an investor's particular and individual circumstances, nor does it constitute a personalized investment advice for any investor. This document reflects the information, opinions and comments of Bank Syz Ltd. as of the date of its publication, which are subject to change without notice. The opinions and comments of the authors in this document reflect their current views and may not coincide with those of other Syz Group entities or third parties, which may have reached different conclusions. The market valuations, terms and calculations contained herein are estimates only. The information provided comes from sources deemed reliable, but Bank Syz Ltd. does not guarantee its completeness, accuracy, reliability and actuality. Past performance gives no indication of nor guarantees current or future results. Bank Syz Ltd. accepts no liability for any loss arising from the use of this document.
Momentum in gold remains powerful, but you are not alone being bullish gold here... The chart below shows CFTC net long minus short position in futures for the Managed Money category. Source: The Market Ear, JPM
Over the last decade, gold prices have more than DOUBLED, marking one of the best rallies in modern history. Over the last 5 years alone, gold is up 76% and on track to be the best-performing asset class of the year, excluding bitcoin. So why gold keeps rising? Ever-rising debt and money debasement seem to be the main culprits. Since the pandemic, US national #debt has soared by $12 trillion while the US dollar lost ~25% of its value. Source: The Kobeissi Letter, BofA
According to a report released by Interfax this week and cited by Bloomberg, Russia’s Draft Federal Budget outlines plans to significantly bolster its holdings in precious metals over the coming years. Notably, the budget includes plans to acquire gold, platinum, palladium, and, for the first time, silver. The inclusion of silver in the State Fund's acquisition strategy marks a departure from recent trends. While central banks around the globe, particularly Russia, have set records in gold purchases following international sanctions, silver has largely remained off their radar. This latest development suggests that silver’s role in Russia’s financial strategy may be evolving. Source: The Jerusalem Post
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