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7 Oct 2024

Russia may be poised to make a notable shift in its precious metals strategy, with silver potentially emerging as a key asset in the country’s expanding State Fund.

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

4 Oct 2024

Commodities, measured by the Bloomberg Commodity Index, are on the verge of breaking out!

Source: Bloomberg, Karel Merck on X

4 Oct 2024

Gold continues to shine, trading at all time highs and up 34% since February.

To BAML, gold is frontrunning rate cuts. Or is it something else?

2 Oct 2024

NEARLY 200 MISSILES WERE LAUNCHED INTO ISRAEL FROM IRAN, ISRAELI ARMY RADIO SAYS

ISRAELI OFFICIAL SAYS RESPONSE TOWARDS IRAN ‘WILL BE HARSH’: KANN Bomb alarm sirens across the entire country (map). Oil spikes +4% Gold +1% VIX skyrockets +20% S&P 500 down 0.9% Source: Global Markets Investor on X

2 Oct 2024

BREAKING: Oil prices surge back above $70/barrel as investors begin pricing-in potential supply disruptions in the Middle East.

We now have a port strike, rising oil prices, aggressive Fed rate cuts and a china monetary + fiscal package. Could this combination trigger a second wave of inflation?

30 Sep 2024

UBS raises its gold targets

Source: UBS

27 Sep 2024

The world's largest oil exporter is preparing to raise output from December as it resigns itself to lower global prices.

Saudi Arabia is ready to abandon its unofficial price target of $100 a barrel for crude as it prepares to increase output, in a sign that the kingdom is resigned to a period of lower oil prices, according to people familiar with the country’s thinking. The world’s largest oil exporter and seven other members of the Opec+ producer group had been due to unwind long-standing production cuts from the start of October. But a two-month delay sparked speculation over whether the group would ever be able to raise output, with the price of Brent crude, the international benchmark, briefly dropping below $70 this month to its lowest since December 2021. Source: FT >>> https://lnkd.in/eYwDvYcQ

26 Sep 2024

Gold is now trading at 40-year extremes relative to its 200D moving average

Source: BofA, Barchart

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