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
The most profitable period in the modern history of the mining industry?
Source: Tavi Costa
Gold ripping and now finally breaking out
Source: Barchart
This looks like a clean breakout
#goldminers Source: Tavi Costa
U.S. debt has been growing much faster than the economy for over two decades
Since 2000, U.S. debt has compounded at 7.7% annually, far outpacing nominal GDP (~4.5%) and the 10-year Treasury yield (~4%). Meanwhile, gold supply has expanded by only about 1.5% per year. For central banks, the contrast is striking: one asset becomes increasingly abundant as debt issuance accelerates, while the other remains structurally scarce. That helps explain why many central banks have been steadily increasing their gold holdings in recent years. Source: Lukas Ekwueme @ekwufinance
BIGGER THAN GOLD: WHEN INNOVATION OUTVALUES THE WORLD’S MOST HISTORIC STORE OF WEALTH
Source: Investorsight
BREAKING: Gold is down -2% in the last 2 hours, falling below $3,950 and hitting a 34-week low.
Gold is now down -30% from its peak, wiping out over $12 trillion in market value. Source: Bull Theory @BullTheoryio
Gold isn't about cash flows or valuations. It's about trust.
For centuries, gold anchored monetary systems and provided confidence when fiat currencies eventually lost it. Today, global debt has exploded to $350 trillion, while only about 25% of all fiat money is backed by the value of all the gold above ground, down from 60–100% throughout most of history. At the same time, governments continue printing money to finance ever-rising debt. China appears to understand this dynamic: it is simultaneously expanding debt and aggressively accumulating gold. If history rhymes, gold may not simply rise in price—it may be revalued as confidence in fiat currencies is tested. Source: jeroen blokland
