Draw your own conclusions
Source chart: @topdowncharts
The breakout continues:
Gold jumps 1.3%, biggest one-day move since November 22, well above the 50DMA and briefly above $2700. The race to new all time highs is on. Source: zerohedge
China’s central bank gold reserves hit a record 72.96 million fine troy ounces in November.
China bought 160,000 fine troy ounces of gold last month, resuming purchases after 6 months. China’s gold reserves have risen by a whopping 10 million ounces over the last two years. As a result, the value of the country’s gold reserves reached $193 billion in November, near the record $199 billion posted in October. Meanwhile, gold prices have rallied 28% year-to-date, and trade just 5% below all-time highs. China's gold stockpile is back on the rise. Source: The Kobeissi Letter, Bloomberg
Bitcoiners had to endure a run of * counts fingers * FIVE black swan events in the span of 8 years, each resulting in price dumps anywhere from 50% to 80%…
Source: Milk Road, Reddit
Breaking : Gold
Bitcoin $BTC is now outperforming Gold by the largest margin in history Source: Barchart
This is the largest daily gold selloff in four years (-3.5%)
Primarily due to profit-taking transitioning into long liquidation after last week's strong rally, Israel's Netanyahu "in principle" approval of a Lebanon ceasefire deal and the announcement of Scott Bessent as President-elect Donald Trump's nominee for US Treasury Secretary. Bessent is seen as another advocate of a smaller government and budget deficits. Source chart: Bloomberg, Tavi Costa
WORLD INVESTING LANDSCAPE IS CHANGING
Global central banks gold reserves hit 13%, the highest in at least 3 decades. At the same time, foreign ownership of US government bonds fell to ~24%, near the lowest in 2 decades. World is embracing gold at the expense of Treasuries. Source: Global Markets Investor, Apollo
THE BIG SWITCH: FROM GOLD ETFs to BITCOIN ETFs
Source: Bloomberg
