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Bank Syz Ltd. accepts no liability for any loss arising from the use of this document. ## Straight from the Desk # **Syz** the moment Live feeds, charts, breaking stories, all day long. - [All](https://blog.syzgroup.com/syz-the-moment) - [equities](https://blog.syzgroup.com/syz-the-moment/tag/equities) - [United States](https://blog.syzgroup.com/syz-the-moment/tag/united-states) - [Macroeconomics](https://blog.syzgroup.com/syz-the-moment/tag/macroeconomics) - [Food for Thought](https://blog.syzgroup.com/syz-the-moment/tag/food-for-thought) - [markets](https://blog.syzgroup.com/syz-the-moment/tag/markets) - [Central banks](https://blog.syzgroup.com/syz-the-moment/tag/central-banks) - [bitcoin](https://blog.syzgroup.com/syz-the-moment/tag/bitcoin) - [Fixed Income](https://blog.syzgroup.com/syz-the-moment/tag/fixed-income) - [geopolitics](https://blog.syzgroup.com/syz-the-moment/tag/geopolitics) - [AI](https://blog.syzgroup.com/syz-the-moment/tag/ai) - [europe](https://blog.syzgroup.com/syz-the-moment/tag/europe) - [Asia](https://blog.syzgroup.com/syz-the-moment/tag/asia) - [gold](https://blog.syzgroup.com/syz-the-moment/tag/gold) - [Commodities](https://blog.syzgroup.com/syz-the-moment/tag/commodities) - [investing](https://blog.syzgroup.com/syz-the-moment/tag/investing) - [Technology](https://blog.syzgroup.com/syz-the-moment/tag/technology) - [Crypto](https://blog.syzgroup.com/syz-the-moment/tag/crypto) - [technical analysis](https://blog.syzgroup.com/syz-the-moment/tag/technical-analysis) - [nvidia](https://blog.syzgroup.com/syz-the-moment/tag/nvidia) - [oil](https://blog.syzgroup.com/syz-the-moment/tag/oil) - [china](https://blog.syzgroup.com/syz-the-moment/tag/china) - [ETF](https://blog.syzgroup.com/syz-the-moment/tag/etf) - [earnings](https://blog.syzgroup.com/syz-the-moment/tag/earnings) - [Forex](https://blog.syzgroup.com/syz-the-moment/tag/forex) - [energy](https://blog.syzgroup.com/syz-the-moment/tag/energy) - [banking](https://blog.syzgroup.com/syz-the-moment/tag/banking) - [magnificent-7](https://blog.syzgroup.com/syz-the-moment/tag/magnificent-7) - [Alternatives](https://blog.syzgroup.com/syz-the-moment/tag/alternatives) - [Volatility](https://blog.syzgroup.com/syz-the-moment/tag/volatility) - [Real Estate](https://blog.syzgroup.com/syz-the-moment/tag/real-estate) - [apple](https://blog.syzgroup.com/syz-the-moment/tag/apple) - [emerging-markets](https://blog.syzgroup.com/syz-the-moment/tag/emerging-markets) - [google](https://blog.syzgroup.com/syz-the-moment/tag/google) - [Middle East](https://blog.syzgroup.com/syz-the-moment/tag/middle-east) - [switzerland](https://blog.syzgroup.com/syz-the-moment/tag/switzerland) - [tesla](https://blog.syzgroup.com/syz-the-moment/tag/tesla) - [United Kingdom](https://blog.syzgroup.com/syz-the-moment/tag/united-kingdom) - [amazon](https://blog.syzgroup.com/syz-the-moment/tag/amazon) - [microsoft](https://blog.syzgroup.com/syz-the-moment/tag/microsoft) - [assetmanagement](https://blog.syzgroup.com/syz-the-moment/tag/assetmanagement) - [ethereum](https://blog.syzgroup.com/syz-the-moment/tag/ethereum) - [meta](https://blog.syzgroup.com/syz-the-moment/tag/meta) - [russia](https://blog.syzgroup.com/syz-the-moment/tag/russia) - [Industrial-production](https://blog.syzgroup.com/syz-the-moment/tag/industrial-production) - [Healthcare](https://blog.syzgroup.com/syz-the-moment/tag/healthcare) - [ESG](https://blog.syzgroup.com/syz-the-moment/tag/esg) - [Global Markets Outlook](https://blog.syzgroup.com/syz-the-moment/tag/global-markets-outlook) - [Turkey](https://blog.syzgroup.com/syz-the-moment/tag/turkey) - [inflation](https://blog.syzgroup.com/syz-the-moment/tag/inflation) - [bankruptcy](https://blog.syzgroup.com/syz-the-moment/tag/bankruptcy) - [brics](https://blog.syzgroup.com/syz-the-moment/tag/brics) - [Market Outlook](https://blog.syzgroup.com/syz-the-moment/tag/market-outlook) - [performance](https://blog.syzgroup.com/syz-the-moment/tag/performance) - [africa](https://blog.syzgroup.com/syz-the-moment/tag/africa) - [LLM](https://blog.syzgroup.com/syz-the-moment/tag/llm) - [Global](https://blog.syzgroup.com/syz-the-moment/tag/global) - [Market News](https://blog.syzgroup.com/syz-the-moment/tag/market-news) - [Weekly Equities](https://blog.syzgroup.com/syz-the-moment/tag/weekly-equities) Show more 22 Oct 2025 - - - #### In gold terms, the S&P 500 is down nearly 30% so far this year. The decline is about to surpass 2008 as the worst year for the index in gold terms in over two decades. Source: Tavi Costa, Bloomberg [#equities|](https://blog.syzgroup.com/syz-the-moment/tag/equities) [#gold](https://blog.syzgroup.com/syz-the-moment/tag/gold) ![In gold terms, the S&P 500 is down nearly 30% so far this year.](https://blog.syzgroup.com/hubfs/1-Oct-22-2025-12-04-32-5627-PM.jpg) ![In gold terms, the S&P 500 is down nearly 30% so far this year.](https://blog.syzgroup.com/hubfs/1-Oct-22-2025-12-04-32-5627-PM.jpg) 21 Oct 2025 - - - #### The Short Term Risk For Gold Gold volatility, GVZ, has exploded to the upside. Everybody underexposed to gold has grabbed calls with both hands, pushing volatilities to extremes. Theta is painfully expensive up here. Once gold pauses or reverses, this could turn into a major headwind. Source: The Market Ear [#gold](https://blog.syzgroup.com/syz-the-moment/tag/gold) ![The Short Term Risk For Gold](https://blog.syzgroup.com/hubfs/10-Oct-21-2025-03-07-13-6740-PM.jpg) ![The Short Term Risk For Gold](https://blog.syzgroup.com/hubfs/10-Oct-21-2025-03-07-13-6740-PM.jpg) 21 Oct 2025 - - - #### The long-term potential for GOLD The current gold secular bull market tracking higher than the early-2000s move and lower than the 1970s bull. Source: @3F\_Research, Warren Pies This is not an investment [#gold](https://blog.syzgroup.com/syz-the-moment/tag/gold) ![The long-term potential for GOLD](https://blog.syzgroup.com/hubfs/9-Oct-21-2025-03-04-30-3845-PM.jpg) ![The long-term potential for GOLD](https://blog.syzgroup.com/hubfs/9-Oct-21-2025-03-04-30-3845-PM.jpg) 21 Oct 2025 - - - #### The Gold ETF ended yesterday's session at its most overbought level on record (monthly RSI). Today it is down 4% $GLD Source. Charlie Biello [#ETF|](https://blog.syzgroup.com/syz-the-moment/tag/etf) [#gold](https://blog.syzgroup.com/syz-the-moment/tag/gold) ![The Gold ETF ended yesterday's session at its most overbought level on record (monthly RSI). Today it is down 4%](https://blog.syzgroup.com/hubfs/8-Oct-21-2025-03-03-30-5091-PM.jpg) ![The Gold ETF ended yesterday's session at its most overbought level on record (monthly RSI). Today it is down 4%](https://blog.syzgroup.com/hubfs/8-Oct-21-2025-03-03-30-5091-PM.jpg) 21 Oct 2025 - - - #### China is remonetizing gold Gold Warrants on the Shanghai futures exchange are UP 25x since the beginning if the year. What is a Gold Warrant? A gold warrant on the Shanghai Futures Exchange (SHFE) is an electronic certificate representing ownership of a specific quantity of physical gold stored in an SHFE-approved delivery warehouse. They are used as the basis for physical delivery against gold futures contracts. Each standard gold warrant typically represents 3,000 grams of gold that meets exchange standards for purity and origin. Why are they surging? Shanghai gold warrants are surging due to a combination of record-breaking safe-haven demand, robust central bank gold purchases (notably by the People’s Bank of China), and intense price volatility driving investor and arbitrage activity. Source: Jim Bianco, @AndreasSteno [#gold|](https://blog.syzgroup.com/syz-the-moment/tag/gold) [#china](https://blog.syzgroup.com/syz-the-moment/tag/china) ![China is remonetizing gold](https://blog.syzgroup.com/hubfs/3-Oct-21-2025-11-54-13-8775-AM.jpg) ![China is remonetizing gold](https://blog.syzgroup.com/hubfs/3-Oct-21-2025-11-54-13-8775-AM.jpg) 20 Oct 2025 - - - #### Gold, Utilities, healthcare and consumer staples are leading the S&P 500 this month Source: WSJ [#markets|](https://blog.syzgroup.com/syz-the-moment/tag/markets) [#gold](https://blog.syzgroup.com/syz-the-moment/tag/gold) ![Gold, Utilities, healthcare and consumer staples are leading the S&P 500 this month](https://blog.syzgroup.com/hubfs/2-Oct-20-2025-12-46-43-0114-PM.jpg) ![Gold, Utilities, healthcare and consumer staples are leading the S&P 500 this month](https://blog.syzgroup.com/hubfs/2-Oct-20-2025-12-46-43-0114-PM.jpg) 17 Oct 2025 - - - #### Gold is Up 9 weeks in a row. Gold has never gone up 10 weeks in a row before. Source: Subu Trade on X [#Commodities|](https://blog.syzgroup.com/syz-the-moment/tag/commodities) [#gold](https://blog.syzgroup.com/syz-the-moment/tag/gold) ![Gold is Up 9 weeks in a row.](https://blog.syzgroup.com/hubfs/10-Oct-17-2025-02-05-05-6203-PM.jpg) ![Gold is Up 9 weeks in a row.](https://blog.syzgroup.com/hubfs/10-Oct-17-2025-02-05-05-6203-PM.jpg) 17 Oct 2025 - - - #### Physical gold shortage in Japan ??? Interesting colour from Bloomberg on gold demand in Japan at present... Source: Bloomberg, Krishan Gopaul on X [#gold|](https://blog.syzgroup.com/syz-the-moment/tag/gold) [#Asia](https://blog.syzgroup.com/syz-the-moment/tag/asia) ![Physical gold shortage in Japan ???](https://blog.syzgroup.com/hubfs/9-Oct-17-2025-02-03-18-7065-PM.jpg) ![Physical gold shortage in Japan ???](https://blog.syzgroup.com/hubfs/9-Oct-17-2025-02-03-18-7065-PM.jpg) ❮❮ [❮](https://blog.syzgroup.com/syz-the-moment/tag/gold/page/14) [13](https://blog.syzgroup.com/syz-the-moment/tag/gold/page/13) [14](https://blog.syzgroup.com/syz-the-moment/tag/gold/page/14) [15](https://blog.syzgroup.com/syz-the-moment/tag/gold/page/15) [16](https://blog.syzgroup.com/syz-the-moment/tag/gold/page/16) [17](https://blog.syzgroup.com/syz-the-moment/tag/gold/page/17) [❯](https://blog.syzgroup.com/syz-the-moment/tag/gold/page/16) [❯❯](https://blog.syzgroup.com/syz-the-moment/tag/gold/page/54?hsLang=en) ## **Thinking** out loud Sign up for our weekly email highlighting the most popular posts. 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