Indians are buying more Gold for Investment than for Jewellery
First time since 2020 Source: Patterns
$1.80 TRILLION has been added to Gold and Silver Marketcap in the last 30 hours as Fed rate hike expectations drop to 50.4%.
Source: Bull Theory
$1.80 TRILLION has been added to Gold and Silver Marketcap in the last 30 hours as Fed rate hike expectations drop to 50.4%.
Source: Bull Theory
As shown on the chart below, rising real 10-year yields has recently NOT been an issue for Gold prices. And the trend might continue.
If the Fed hikes in September, it'll only do so to anchor long-term yields, though obviously that won't be the stated reason. As highlighted by Robin Brooks, Yield caps among rising debt and out-of-control deficits are the bread and butter of the debasement trade. Gold might keep rising. Despite the rate hike. Because it is view as the ultimate hedge against money debasement. Source: Robin Brooks
Gold and Bitcoin ETFs have combined for +$7b in flows in past week, by far a record for a 5-day period as debasement trade steals spotlight from AI.
Also notable $IBIT YTD flows are now positive. Source: Eric Balchunas, Bloomberg
Another bullish development for gold
In 2022, the US froze hundreds of billions in Russian assets. Gold then rallied from $1,800 to $5,500. Now Bessent threatens to cut banks and governments doing business with Iran out of the dollar system. This might push sovereign countries / central banks to buy more gold Source: Karel Mercx
Gold and Bitcoin are rallying in tandem as investors take fright at Treasury Secretary Scott Bessent's politically clumsy interventions in the bond market.
Gold has jumped to $4,519/oz, while Bitcoin is back above $72,000. When confidence in policymaking is shaken, both analog and digital gold benefit. Source: Bloomberg, HolgerZ
Gold demand in Asia remains exceptionally strong.
Asian gold ETF holdings have more than doubled over the past year, surpassing 500 tonnes for the first time this century, with China driving much of the surge. By contrast, gold ETF holdings in North America and Europe have remained broadly stable. And the macro backdrop supporting gold has barely changed: Government debt remains historically high Fiscal deficits remain elevated Non-bank credit continues to expand Leverage across the financial system remains substantial In other words, the structural case for gold remains firmly intact. What is changing is investor demand. Asian investors, particularly in China, are accumulating gold at an accelerating pace. And when structural macro support meets rising investment demand, the adjustment ultimately has to come through one place: The price of gold. Source: Bloomberg, Global Markets Investor
