Gold has shown a remarkable surge, nearly quadrupling from $600 to $2,000 per ounce in just six years following the Fed's easing in 2007.
On the chart below, the green line is representing the Fed Funds rate - INVERTED, and the yellow line is depicting gold price. Additionally, the white line comparing Gold vs. S&P 500 indicates a potential turnaround after a prolonged period of underperformance. Could the recent outperformance by gold signify the start of a new trend? Source: Bloomberg, Garret Goggin
gold after Fed rate cuts
Source: Incremetum AG
#gold
Source chart: Bloomberg
Bitcoin (+43%) and Gold (+25%) are the top performing major assets in 2024. We've never seen these two in the #1/#2 spots for any calendar year.
Source: Charlie Bilello
Saud Central Bank Secretly Bought 160 Tonnes Of Gold In Switzerland - www.zerohedge.com.
According to Jan Nieuwenhuijs via Money Metals (and published on zerohedge), the Saudis have joined other Asian countries in ditching their long-term sensitivity to the gold price. Evidence suggests the Saudi central bank has been covertly buying 160 tonnes of gold in Switzerland since early 2022, contributing to the current gold bull market.
RUSSIA ANNOUNCES 700% INCREASE IN GOLD/FX PURCHASES. MONTH BEFORE BRICS SUMMIT
Source: Tass, VBL’s Ghost
Gold is rising because of demand for "fallback money"
Source: Bloomberg
BREAKING: Global net gold purchases by central banks reached 483 tonnes in the first half of 2024, the most on record.
This is 5% higher than the previous record of 460 tonnes set in the first half of 2023. In Q2 2024, central banks bought 183 tonnes of gold, marking a 6% year-over-year increase. On the other hand, this was 39% lower than the 300 tonnes of purchases seen in Q1. The largest buyers were the National Bank of Poland, the Reserve Bank of India, and the Central Bank of Turkey. Why are central banks stocking up on gold? Source: The Kobeissi Letter
