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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) - [gold](https://blog.syzgroup.com/syz-the-moment/tag/gold) - [europe](https://blog.syzgroup.com/syz-the-moment/tag/europe) - [Commodities](https://blog.syzgroup.com/syz-the-moment/tag/commodities) - [investing](https://blog.syzgroup.com/syz-the-moment/tag/investing) - [Technology](https://blog.syzgroup.com/syz-the-moment/tag/technology) - [Crypto](https://blog.syzgroup.com/syz-the-moment/tag/crypto) - [technical analysis](https://blog.syzgroup.com/syz-the-moment/tag/technical-analysis) - [nvidia](https://blog.syzgroup.com/syz-the-moment/tag/nvidia) - [oil](https://blog.syzgroup.com/syz-the-moment/tag/oil) - [china](https://blog.syzgroup.com/syz-the-moment/tag/china) - [ETF](https://blog.syzgroup.com/syz-the-moment/tag/etf) - [earnings](https://blog.syzgroup.com/syz-the-moment/tag/earnings) - [Forex](https://blog.syzgroup.com/syz-the-moment/tag/forex) - [energy](https://blog.syzgroup.com/syz-the-moment/tag/energy) - [banking](https://blog.syzgroup.com/syz-the-moment/tag/banking) - [magnificent-7](https://blog.syzgroup.com/syz-the-moment/tag/magnificent-7) - [Volatility](https://blog.syzgroup.com/syz-the-moment/tag/volatility) - [Alternatives](https://blog.syzgroup.com/syz-the-moment/tag/alternatives) - [Real Estate](https://blog.syzgroup.com/syz-the-moment/tag/real-estate) - [apple](https://blog.syzgroup.com/syz-the-moment/tag/apple) - [google](https://blog.syzgroup.com/syz-the-moment/tag/google) - [emerging-markets](https://blog.syzgroup.com/syz-the-moment/tag/emerging-markets) - [Middle East](https://blog.syzgroup.com/syz-the-moment/tag/middle-east) - [switzerland](https://blog.syzgroup.com/syz-the-moment/tag/switzerland) - [tesla](https://blog.syzgroup.com/syz-the-moment/tag/tesla) - [amazon](https://blog.syzgroup.com/syz-the-moment/tag/amazon) - [United Kingdom](https://blog.syzgroup.com/syz-the-moment/tag/united-kingdom) - [microsoft](https://blog.syzgroup.com/syz-the-moment/tag/microsoft) - [assetmanagement](https://blog.syzgroup.com/syz-the-moment/tag/assetmanagement) - [ethereum](https://blog.syzgroup.com/syz-the-moment/tag/ethereum) - [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 31 Oct 2023 - - - #### As highlighted by Tavi Costa, despite the recent push toward new highs, gold remains severely under-allocated In fact, 71% of US advisors have little to no exposure to the metal. Similar to how Central banks continue to aggressively accumulate the metal, conventional investment portfolios have yet to take steps to find true diversifiers. Sources: Tavi Costa, BobEUnlimited [#United States|](https://blog.syzgroup.com/syz-the-moment/tag/united-states) [#gold](https://blog.syzgroup.com/syz-the-moment/tag/gold) ![As highlighted by Tavi Costa, despite the recent push toward new highs, gold remains severely under-allocated](https://blog.syzgroup.com/hubfs/1698697853181.jpg) ![As highlighted by Tavi Costa, despite the recent push toward new highs, gold remains severely under-allocated](https://blog.syzgroup.com/hubfs/1698697853181.jpg) 30 Oct 2023 - - - #### Here's the downside risk on gold. Either this longstanding correlation is broken or inflation is grossly understated and real rates remain negative Source: Henry Smith [#Macroeconomics|](https://blog.syzgroup.com/syz-the-moment/tag/macroeconomics) [#gold](https://blog.syzgroup.com/syz-the-moment/tag/gold) ![Here's the downside risk on gold. Either this longstanding correlation is broken or inflation is grossly understated and real rates remain negative](https://blog.syzgroup.com/hubfs/1698597380676.jpg) ![Here's the downside risk on gold. Either this longstanding correlation is broken or inflation is grossly understated and real rates remain negative](https://blog.syzgroup.com/hubfs/1698597380676.jpg) 27 Oct 2023 - - - #### Gold's normal negative correlation to the dollar (upper chart) and US bond yields continue to collapse Highlighting the current support for XAU as an alternative investment amid rising financial risks as yields surge and investors worry about developments in the Middle East (Chart: Bloomberg) [#Forex|](https://blog.syzgroup.com/syz-the-moment/tag/forex) [#gold](https://blog.syzgroup.com/syz-the-moment/tag/gold) ![Gold's normal negative correlation to the dollar (upper chart) and US bond yields continue to collapse](https://blog.syzgroup.com/hubfs/1698351814723.jpg) ![Gold's normal negative correlation to the dollar (upper chart) and US bond yields continue to collapse](https://blog.syzgroup.com/hubfs/1698351814723.jpg) 24 Oct 2023 - - - #### Here's a chart of gold in yen Japan has been ahead of the curve when it comes to FIAT currency debasement and the way its currency is trading against gold is rather frightening with another huge ~10% new ATH move this month. Will other FIAT currencies follow the yen path? Source: Graddhy - Commodities TA+Cycles [#gold|](https://blog.syzgroup.com/syz-the-moment/tag/gold) [#Asia](https://blog.syzgroup.com/syz-the-moment/tag/asia) ![Here's a chart of gold in yen](https://blog.syzgroup.com/hubfs/1698084084210.jpg) ![Here's a chart of gold in yen](https://blog.syzgroup.com/hubfs/1698084084210.jpg) 24 Oct 2023 - - - #### Amazing chart by CrossBorderCapital Treasuries out, gold in? [#Fixed Income|](https://blog.syzgroup.com/syz-the-moment/tag/fixed-income) [#gold](https://blog.syzgroup.com/syz-the-moment/tag/gold) ![Amazing chart by CrossBorderCapital](https://blog.syzgroup.com/hubfs/1698039509962.jpg) ![Amazing chart by CrossBorderCapital](https://blog.syzgroup.com/hubfs/1698039509962.jpg) 23 Oct 2023 - - - #### The correlation was weaker in the 1980s/1990s, but starting after 2000, gold has historically done quite well whenever the Fed pauses or cuts Source: Lyn Alden [#Central banks|](https://blog.syzgroup.com/syz-the-moment/tag/central-banks) [#gold](https://blog.syzgroup.com/syz-the-moment/tag/gold) ![The correlation was weaker in the 1980s/1990s, but starting after 2000, gold has historically done quite well whenever the Fed pauses or cuts](https://blog.syzgroup.com/hubfs/1697924509070.jpg) ![The correlation was weaker in the 1980s/1990s, but starting after 2000, gold has historically done quite well whenever the Fed pauses or cuts](https://blog.syzgroup.com/hubfs/1697924509070.jpg) 20 Oct 2023 - - - #### Oil vol, OVX, and gold vol, GVZ, have exploded higher and continue to stay at elevated levels/move to new recent highs These are the two assets to watch for the "real" war stress. Source: TME, Refinitiv [#gold|](https://blog.syzgroup.com/syz-the-moment/tag/gold) [#oil](https://blog.syzgroup.com/syz-the-moment/tag/oil) ![Oil vol, OVX, and gold vol, GVZ, have exploded higher and continue to stay at elevated levels/move to new recent highs](https://blog.syzgroup.com/hubfs/1697750148367.jpg) ![Oil vol, OVX, and gold vol, GVZ, have exploded higher and continue to stay at elevated levels/move to new recent highs](https://blog.syzgroup.com/hubfs/1697750148367.jpg) 19 Oct 2023 - - - #### Gold (in yellow) vs. VIX (in green). Is gold the new 'fear index'? It has systemically decoupled from real rates for sure. Source: Bloomberg [#Macroeconomics|](https://blog.syzgroup.com/syz-the-moment/tag/macroeconomics) [#gold](https://blog.syzgroup.com/syz-the-moment/tag/gold) ![Gold (in yellow) vs. VIX (in green). Is gold the new 'fear index'?](https://blog.syzgroup.com/hubfs/1697662446580.jpg) ![Gold (in yellow) vs. VIX (in green). Is gold the new 'fear index'?](https://blog.syzgroup.com/hubfs/1697662446580.jpg) ❮❮ [❮](https://blog.syzgroup.com/syz-the-moment/tag/gold/page/52) [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) [54](https://blog.syzgroup.com/syz-the-moment/tag/gold/page/54) [❯](https://blog.syzgroup.com/syz-the-moment/tag/gold/page/54) ## **Thinking** out loud Sign up for our weekly email highlighting the most popular posts. 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