China Gold and Silver Sales Hit Six Year High
Sales of gold, silver and jewelry have been brisk for months, defying wobbles in the Chinese economy centered around the protracted crisis in the property market. Retail salesin December, the last month for which data is available, were at a six-year high. source : bloomberg
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
