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
Could it be one of the most important breakouts developing in the entire commodity complex?
Source: Tavi Costa, Bloomberg
All the gold ever mined fits in a sphere 107 ft wide.
216,300 tonnes above ground. Worth around $29T That's it and that's the whole supply. It grows about 2% a year, and you can't print more. Source: Jack Prandelli on X, Visual Capitalist
A tough time for store of values
Source: Bitcoin Magazine
🚨Gold and silver are getting wrecked.
Last 30 hours: - Gold down -3.87%, wiping out $1.1 trillion. - Silver down -9.18%, wiping out ~$400 billion. Since the war started: - Gold down -25%, erasing $9.4 trillion. - Silver down -38%, erasing $2.7 trillion. From all time highs: - Gold down -28%, $11 trillion wiped. - Silver down -51%, $4.6 trillion wiped. Precious Metals were supposed to surge on war fear. Instead they crashed when the war started, and now they're crashing again as the war is ending. A buying opportunity ? Source: Bull Theory
Gold miners are trading at one of the deepest discounts to the S&P 500 on record.
Fundamentals remain strong. Prices keep falling. Source: Otavio (Tavi) Costa
Russia is dumping its gold!
The country that was once the world's largest sovereign buyer has now sold over $4bn worth of its reserves this year. Its holdings are now at the lowest level since the day it invaded Ukraine. The reason: energy revenues are not covering the war's costs, and Russia is looking to plug the budget gap. The irony is that it's doing this at record gold prices. The only silver lining for Moscow is that it picked a good time to sell. Source: Bank of Russia, Bloomberg
