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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.
Tavi Costa believes that when it comes to the yellow metal this as one of those key moments when traditional technical analysis like overbought conditions become largely irrelevant. We are likely in the midst of a monetary realignment, and attempting to time short-term corrections based on extreme RSI levels misses the forest for the trees, in his view. "This perspective underestimates the structural macro imbalances that continue to compel governments to accumulate gold" he added. He might be right...
According to S&P Global, the Composite PMI (a key economic indicator) fell to 49.7 in April, dropping below the critical 50 mark that separates growth from contraction. The services sector was hit especially hard, with its index tumbling to 48.8 – the lowest in 14 months. This drop reflects growing worries about tariffs, as well as broader concerns around Germany’s economic and political future. This unexpected decline adds to an already grim outlook for the German economy, which is considered particularly exposed to global trade tensions. The IMF is now forecasting stagnation for Germany this year. Source: HolgerZ, Bloomberg
Meanwhile, Chinese imports are expected to increase to every other market, with the rest of North America predicted to see growth of 25 percent. Source: Statista @StatistaCharts
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