Straight from the Desk
Syz the moment
Live feeds, charts, breaking stories, all day long.
- All
- us
- macro
- equities
- Food for Thoughts
- sp500
- Central banks
- Bonds
- bitcoin
- Asia
- markets
- technical analysis
- investing
- europe
- Crypto
- tech
- geopolitics
- Commodities
- AI
- gold
- performance
- ETF
- nvidia
- earnings
- Forex
- Real Estate
- oil
- banking
- Volatility
- nasdaq
- apple
- magnificent-7
- emerging-markets
- energy
- Alternatives
- switzerland
- china
- trading
- tesla
- sentiment
- russia
- Money Market
- assetmanagement
- UK
- ESG
- Middle East
- amazon
- meta
- ethereum
- microsoft
- bankruptcy
- Healthcare
- Industrial-production
- Turkey
- Global Markets Outlook
- africa
- brics
- Market Outlook
- Asset Allocation Insights
- Flash
- Focus
Central Bank Gold Reserves
Interesting thing on this is how even after their big buy-up, Russia & China lag far behind USA + Eurozone holdings of gold. Source: Callum Thomas, Visual Capitalist
Gold is shining: Gold's global market cap to world GDP ratio reached a RECORD 16.7% in 2024.
This ratio has doubled in 10 years and quadrupled since 2001. Nominally, gold’s market value sits near an all-time high of ~$18.5 trillion. This comes as gold as posted an average annual return of +9.5% since 2000, making it one of the best performing major asset classes this century. Since the start of 2024, gold prices have hit 41 all-time highs and are up +33%. Source: The Kobeissi Letter
🚀 JPMorgan analysts said the "debasement trade" is far from a passing trend, with both gold and bitcoin gaining structural importance in investor portfolios.
🚨 "The gold price appreciation over the past year has gone well beyond the moves implied by dollar and real bond yield shifts, and likely reflects the re-emergence of this 'debasement trade,'" JPMorgan analysts led by Nikolaos Panigirtzoglou wrote in a report on Friday. Meanwhile, a record capital inflow into crypto markets in 2024 suggests that bitcoin is also becoming "a more important component" of investors' portfolios, they added. 👉 The debasement trade refers to a strategy where investors turn to assets like gold and bitcoin to hedge against the devaluation of fiat currencies, often driven by factors such as inflation, rising government debt and geopolitical instability. 🔴 Overall, with both gold and bitcoin gaining structural importance, the debasement trade is here to stay, according to the analysts. Last October, the analysts expressed bullishness on crypto heading into 2025, citing factors such as the debasement trade and growing institutional adoption, among others. Source: The Block Disclaimer: These are not investment recommendations. Cryptoasset investments can be complex and high risk.
"Gold's rally could extend through 2025 on the back of falling rates and persistent central bank demand."
Source: Goldman Sachs, Win Smart, CFA @WinfieldSmart
Investing with intelligence
Our latest research, commentary and market outlooks