China’s housing market slump is deepening, which is putting pressure on industrial metals.
Here are new home prices (month-over-month). Could it be a positive for GOLD demand? Source: Ronnie Stoeferle, The Daily Shot
Which commodities protect against different inflation shocks? Goldman regards GOLD as a decent hedge
Source: Goldman Sachs, Ronnie Stoeferle
US family offices currently allocate just 1% of their assets to commodities, including gold.
Source: UBS, Tavi Costa
BREAKING: SPOT GOLD PRICE TUMBLED BY $20 PER OUNCE AS CHINA'S PBOC STOPPED GOLD RESERVES BUILDING.
China's end-May forex reserves are $3.2320 trillion, higher than the previous $3.2008tln. Gold reserves were unchanged at 72.80 million ounces, and the value of gold reserves was $170.9bln vs the previous $167.9 bln as gold price increased in May. Source: CN Wire
BREAKING: Gold's share of global international reserves jumps to 17.6% in 2023, the most in 27 years.
Source: WinSmart, Gainesville Coins, The Kobeissi Letter
Did you know that the S&P 500 has been basically flat vs gold over the last six years? 🤔
Source: Markets & Mayhem, BofA
Hedge funds build largest long Gold position in more than 4 years
Source: Barchart
Multiple times in history, the precious metals industry was considered the largest market among global assets.
Today, however, it has shrunk so much that it's almost a rounding error. Will capital start to flow back into this industry? If yes, the impact on prices could be substantial... Source: Crescat Capital, Bloomberg
