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Bank Syz Ltd. accepts no liability for any loss arising from the use of this document. ## Straight from the Desk # **Syz** the moment Live feeds, charts, breaking stories, all day long. - [All](https://blog.syzgroup.com/syz-the-moment) - [equities](https://blog.syzgroup.com/syz-the-moment/tag/equities) - [United States](https://blog.syzgroup.com/syz-the-moment/tag/united-states) - [Macroeconomics](https://blog.syzgroup.com/syz-the-moment/tag/macroeconomics) - [Food for Thoughts](https://blog.syzgroup.com/syz-the-moment/tag/food-for-thoughts) - [markets](https://blog.syzgroup.com/syz-the-moment/tag/markets) - [Central banks](https://blog.syzgroup.com/syz-the-moment/tag/central-banks) - [bitcoin](https://blog.syzgroup.com/syz-the-moment/tag/bitcoin) - [Fixed Income](https://blog.syzgroup.com/syz-the-moment/tag/fixed-income) - [geopolitics](https://blog.syzgroup.com/syz-the-moment/tag/geopolitics) - [AI](https://blog.syzgroup.com/syz-the-moment/tag/ai) - [Asia](https://blog.syzgroup.com/syz-the-moment/tag/asia) - 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[russia](https://blog.syzgroup.com/syz-the-moment/tag/russia) - [meta](https://blog.syzgroup.com/syz-the-moment/tag/meta) - [Healthcare](https://blog.syzgroup.com/syz-the-moment/tag/healthcare) - [Industrial-production](https://blog.syzgroup.com/syz-the-moment/tag/industrial-production) - [ESG](https://blog.syzgroup.com/syz-the-moment/tag/esg) - [Global Markets Outlook](https://blog.syzgroup.com/syz-the-moment/tag/global-markets-outlook) - [Turkey](https://blog.syzgroup.com/syz-the-moment/tag/turkey) - [bankruptcy](https://blog.syzgroup.com/syz-the-moment/tag/bankruptcy) - [inflation](https://blog.syzgroup.com/syz-the-moment/tag/inflation) - [brics](https://blog.syzgroup.com/syz-the-moment/tag/brics) - [Market Outlook](https://blog.syzgroup.com/syz-the-moment/tag/market-outlook) - [performance](https://blog.syzgroup.com/syz-the-moment/tag/performance) - [africa](https://blog.syzgroup.com/syz-the-moment/tag/africa) - [LLM](https://blog.syzgroup.com/syz-the-moment/tag/llm) - [Global](https://blog.syzgroup.com/syz-the-moment/tag/global) - [Market News](https://blog.syzgroup.com/syz-the-moment/tag/market-news) - [Weekly Equities](https://blog.syzgroup.com/syz-the-moment/tag/weekly-equities) Show more 11 Dec 2023 - - - #### GOLD remains 20% below the 1980 peak inflation adjusted Source: DB, Win Smart [#Macroeconomics|](https://blog.syzgroup.com/syz-the-moment/tag/macroeconomics) [#gold](https://blog.syzgroup.com/syz-the-moment/tag/gold) ![GOLD remains 20% below the 1980 peak inflation adjusted](https://blog.syzgroup.com/hubfs/1702234370031.jpg) ![GOLD remains 20% below the 1980 peak inflation adjusted](https://blog.syzgroup.com/hubfs/1702234370031.jpg) 8 Dec 2023 - - - #### 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 [#Central banks|](https://blog.syzgroup.com/syz-the-moment/tag/central-banks) [#gold](https://blog.syzgroup.com/syz-the-moment/tag/gold) ![Central banks are on pace to buy over 1,000 tons of gold again](https://blog.syzgroup.com/hubfs/1701989312901.jpg) ![Central banks are on pace to buy over 1,000 tons of gold again](https://blog.syzgroup.com/hubfs/1701989312901.jpg) 7 Dec 2023 - - - #### A golden cross on gold (50d MA is trading above 200d MA and both are trending higher) Source. Bloomberg, Tavi Costa [#technical analysis|](https://blog.syzgroup.com/syz-the-moment/tag/technical-analysis) [#gold](https://blog.syzgroup.com/syz-the-moment/tag/gold) ![A golden cross on gold (50d MA is trading above 200d MA and both are trending higher)](https://blog.syzgroup.com/hubfs/1701923632010.jpg) ![A golden cross on gold (50d MA is trading above 200d MA and both are trending higher)](https://blog.syzgroup.com/hubfs/1701923632010.jpg) 5 Dec 2023 - - - #### Interesting market action... Bitcoin and Gold just moved in sharply opposite directions after weeks of similar price action. Beginning late Sunday night, both assets jumped sharply Since then, Bitcoin is up 6.5% while gold prices have posted a massive $100 reversal. Some shift from gold to digital gold? Or just a random short-term divergence? Source: The Kobeissi Letter [#gold|](https://blog.syzgroup.com/syz-the-moment/tag/gold) [#bitcoin](https://blog.syzgroup.com/syz-the-moment/tag/bitcoin) ![Interesting market action... Bitcoin and Gold just moved in sharply opposite directions after weeks of similar price action. Beginning late Sunday night, both assets jumped sharply](https://blog.syzgroup.com/hubfs/1701717988470.jpg) ![Interesting market action... Bitcoin and Gold just moved in sharply opposite directions after weeks of similar price action. Beginning late Sunday night, both assets jumped sharply](https://blog.syzgroup.com/hubfs/1701717988470.jpg) 4 Dec 2023 - - - #### Gold hit record high 2'135.39/oz in early trading hours Gold surged to a new all-time high as growing expectations for US rate cuts early next year. This latest leg of gold's rally has been turbocharged by comments on Friday from Fed Chair Jerome Powell. Precious metal's strength has been underpinned buy other factors as purchases by governments and central banks as well as geopolitical uncertainty. [#Central banks|](https://blog.syzgroup.com/syz-the-moment/tag/central-banks) [#markets|](https://blog.syzgroup.com/syz-the-moment/tag/markets) ![Gold hit record high 2'135.39/oz in early trading hours](https://blog.syzgroup.com/hubfs/Gold%2004dec23.jpg) ![Gold hit record high 2'135.39/oz in early trading hours](https://blog.syzgroup.com/hubfs/Gold%2004dec23.jpg) 4 Dec 2023 - - - #### A wake-up call to start the week with Gold trading above $2,100 and digital gold aka bitcoin trading above $41,000 I do see 2 messages here: 1) Short-term: Mr Market believes Mr Powell is bluffing, i.e rate cuts are coming; 2) Long-term: dollar debasement is inevitable. Investors and central banks are looking for reserve status [#gold|](https://blog.syzgroup.com/syz-the-moment/tag/gold) [#bitcoin](https://blog.syzgroup.com/syz-the-moment/tag/bitcoin) ![A wake-up call to start the week with Gold trading above $2,100 and digital gold aka bitcoin trading above $41,000](https://blog.syzgroup.com/hubfs/1701672503927.jpg) ![A wake-up call to start the week with Gold trading above $2,100 and digital gold aka bitcoin trading above $41,000](https://blog.syzgroup.com/hubfs/1701672503927.jpg) 30 Nov 2023 - - - #### Is massive buying by China the main reason for the current gold rally? Gold trading above $2,000 despite real fund rates above 2% and the strong dollar is one of the main surprises of 2023. One theory is that China's "Massive Accumulation Of Gold" is behind Gold resilience this year. Indeed, according to unofficial tallies - such as that kept by Gainesville Coins analyst Jan Nieuwenhuijs - total gold purchases by the Chinese central bank (reported and unreported) are significantly bigger than what has been officially disclosed, and in Q3 alone, China purchased 179 tonnes of physical; year-to-date the PBoC bought 593 tonnes, which is 80% more than what it bought in the first three quarters last year. As such, China's total estimated gold holdings are 5,220 tonnes, more than twice what’s officially disclosed at 2,192 tonnes... Source: www.zerohedge.com [#gold|](https://blog.syzgroup.com/syz-the-moment/tag/gold) [#Asia](https://blog.syzgroup.com/syz-the-moment/tag/asia) ![Is massive buying by China the main reason for the current gold rally?](https://blog.syzgroup.com/hubfs/1701352061732.jpg) ![Is massive buying by China the main reason for the current gold rally?](https://blog.syzgroup.com/hubfs/1701352061732.jpg) 29 Nov 2023 - - - #### They just started buying gold... CTAs have reversed the gold short into a long, but they could be buying much more on the back of this break out. They are more than happy to play this momentum move... Source: Bloomberg, TME [#gold](https://blog.syzgroup.com/syz-the-moment/tag/gold) ![They just started buying gold...](https://blog.syzgroup.com/hubfs/1701203272604.jpg) ![They just started buying gold...](https://blog.syzgroup.com/hubfs/1701203272604.jpg) ❮❮ [❮](https://blog.syzgroup.com/syz-the-moment/tag/gold/page/50) [49](https://blog.syzgroup.com/syz-the-moment/tag/gold/page/49) [50](https://blog.syzgroup.com/syz-the-moment/tag/gold/page/50) [51](https://blog.syzgroup.com/syz-the-moment/tag/gold/page/51) [52](https://blog.syzgroup.com/syz-the-moment/tag/gold/page/52) [53](https://blog.syzgroup.com/syz-the-moment/tag/gold/page/53) [❯](https://blog.syzgroup.com/syz-the-moment/tag/gold/page/52) [❯❯](https://blog.syzgroup.com/syz-the-moment/tag/gold/page/54?hsLang=en) ## **Thinking** out loud Sign up for our weekly email highlighting the most popular posts. 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