Investors continue to dump their Gold ETFs despite strengthening fundamentals.
Source: Goldman Sachs
Oil prices jump back above $75 after the US and UK conduct strikes in Yemen.
We are also seeing gold prices up on the news as fears of a larger war resurface. The primary motive for these strikes was the recent Red Sea attacks by the Houthi group in Yemen. Source: The Kobeissi Letter
The rise of digital gold in one chart. In 2012, one ounce of Gold was still worth 400 Bitcoin, now less than 0.05
Source: HolgerZ, Bloomberg
Gold and digital Gold (aka Bitcoin) seem to enjoy Powell dovishness and dollar weakness
Gold gained 2.4% following dovish Fed meeting, Bitcoin gained almost 5%. Source: HolgerZ, Bloomberg
Gold rallying to 2k$ despite investors selling gold is remarkable. Is it all driven by central banks demand?
Source: Michel A.Arouet, Bloomberg
GOLD remains 20% below the 1980 peak inflation adjusted
Source: DB, Win Smart
Central banks are on pace to buy over 1,000 tons of gold again
Despite the near-record annual purchases, it's worth noting that these institutions once held 80% of their balance sheet in gold Today, it's barely 20%. A return to the historical average of central banks holding 40% of their balance in gold could propel gold prices north of $3,000 based solely on that capital dynamic... Source: Tavi Costa, BofA
A golden cross on gold (50d MA is trading above 200d MA and both are trending higher)
Source. Bloomberg, Tavi Costa
