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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 Thought](https://blog.syzgroup.com/syz-the-moment/tag/food-for-thought) - [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) - [europe](https://blog.syzgroup.com/syz-the-moment/tag/europe) - [Asia](https://blog.syzgroup.com/syz-the-moment/tag/asia) - [gold](https://blog.syzgroup.com/syz-the-moment/tag/gold) - [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) - [Alternatives](https://blog.syzgroup.com/syz-the-moment/tag/alternatives) - [Volatility](https://blog.syzgroup.com/syz-the-moment/tag/volatility) - [Real Estate](https://blog.syzgroup.com/syz-the-moment/tag/real-estate) - [apple](https://blog.syzgroup.com/syz-the-moment/tag/apple) - [emerging-markets](https://blog.syzgroup.com/syz-the-moment/tag/emerging-markets) - [google](https://blog.syzgroup.com/syz-the-moment/tag/google) - [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) - [United Kingdom](https://blog.syzgroup.com/syz-the-moment/tag/united-kingdom) - [amazon](https://blog.syzgroup.com/syz-the-moment/tag/amazon) - [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) - [meta](https://blog.syzgroup.com/syz-the-moment/tag/meta) - [russia](https://blog.syzgroup.com/syz-the-moment/tag/russia) - [Industrial-production](https://blog.syzgroup.com/syz-the-moment/tag/industrial-production) - [Healthcare](https://blog.syzgroup.com/syz-the-moment/tag/healthcare) - [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) - [inflation](https://blog.syzgroup.com/syz-the-moment/tag/inflation) - [bankruptcy](https://blog.syzgroup.com/syz-the-moment/tag/bankruptcy) - [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 30 Jan 2026 - - - #### In Germany, the value of the country’s gold reserves has climbed to €496bn. Germany holds 3,352 tonnes of gold through the Bundesbank. More than 1,200 tonnes are stored in New York, with the rest held in Frankfurt and London. Source: HolgerZ, Bloomberg [#gold|](https://blog.syzgroup.com/syz-the-moment/tag/gold) [#europe](https://blog.syzgroup.com/syz-the-moment/tag/europe) ![In Germany, the value of the country’s gold reserves has climbed to €496bn.](https://blog.syzgroup.com/hubfs/11-Jan-30-2026-03-29-58-6981-PM.jpg) ![In Germany, the value of the country’s gold reserves has climbed to €496bn.](https://blog.syzgroup.com/hubfs/11-Jan-30-2026-03-29-58-6981-PM.jpg) 30 Jan 2026 - - - #### Did the BTC/Gold ratio just find support? Source: www.zerohedge.com [#gold|](https://blog.syzgroup.com/syz-the-moment/tag/gold) [#bitcoin](https://blog.syzgroup.com/syz-the-moment/tag/bitcoin) ![Did the BTC/Gold ratio just find support?](https://blog.syzgroup.com/hubfs/8-Jan-30-2026-03-14-35-0711-PM.jpg) ![Did the BTC/Gold ratio just find support?](https://blog.syzgroup.com/hubfs/8-Jan-30-2026-03-14-35-0711-PM.jpg) 29 Jan 2026 - - - #### Gold vs S&P total return. A rock has outperformed the collective genius of the US capital markets by more than 100% Source: zerohedge [#equities|](https://blog.syzgroup.com/syz-the-moment/tag/equities) [#gold](https://blog.syzgroup.com/syz-the-moment/tag/gold) ![Gold vs S&P total return.](https://blog.syzgroup.com/hubfs/11-Jan-29-2026-04-23-50-1681-PM.jpg) ![Gold vs S&P total return.](https://blog.syzgroup.com/hubfs/11-Jan-29-2026-04-23-50-1681-PM.jpg) 29 Jan 2026 - - - #### Tether owns 3X more gold than bitcoin. Gold: Tether holds ~140 tons = $24B Bitcoin: Tether holds $8B in Bitcoin Source: Marin Katusa @MarinKatusa [#Crypto|](https://blog.syzgroup.com/syz-the-moment/tag/crypto) [#gold](https://blog.syzgroup.com/syz-the-moment/tag/gold) ![Tether owns 3X more gold than bitcoin.](https://blog.syzgroup.com/hubfs/6-Jan-29-2026-04-16-35-5145-PM.jpg) ![Tether owns 3X more gold than bitcoin.](https://blog.syzgroup.com/hubfs/6-Jan-29-2026-04-16-35-5145-PM.jpg) 28 Jan 2026 - - - #### Trump: He who has the gold makes the rules European gold in US custody: - Germany: ~40% of gold holdings - Italy: ~50% - Netherlands: ~30% Not your vault, not your gold ??? Source: Lukas Ekwueme @ekwufinance [#gold|](https://blog.syzgroup.com/syz-the-moment/tag/gold) [#geopolitics](https://blog.syzgroup.com/syz-the-moment/tag/geopolitics) ![Trump: He who has the gold makes the rules](https://blog.syzgroup.com/hubfs/13-Jan-28-2026-04-44-08-8852-PM.jpg) ![Trump: He who has the gold makes the rules](https://blog.syzgroup.com/hubfs/13-Jan-28-2026-04-44-08-8852-PM.jpg) 28 Jan 2026 - - - #### Did someone front run Trump's dollar announcement by going all-in gold? At exactly 3pm, a large block of gold‑linked call (GLD) trading went through, coinciding with the sharp move higher in spot gold. In over‑the‑counter equivalent terms, a trader rolled 250k deltas out of an in‑the‑money 4,950/5,050 call spread, and into a Feb. 20 5,250/5,400 call spread, representing 1.1 mm ounces of gold exposure ($5.1BN). The client paid $30MM in net premium to implement the new structure. Source: zerohedge [#Forex|](https://blog.syzgroup.com/syz-the-moment/tag/forex) [#gold](https://blog.syzgroup.com/syz-the-moment/tag/gold) ![Did someone front run Trump's dollar announcement by going all-in gold?](https://blog.syzgroup.com/hubfs/5-Jan-28-2026-11-23-58-3456-AM.jpg) ![Did someone front run Trump's dollar announcement by going all-in gold?](https://blog.syzgroup.com/hubfs/5-Jan-28-2026-11-23-58-3456-AM.jpg) 28 Jan 2026 - - - #### Gold volatility is now the global cross-asset volatility outlier (silver too, though that market is essentially broken for now). Hedging “global” risk via gold volatility at these levels is very unattractive. Source: The Market Ear [#Commodities|](https://blog.syzgroup.com/syz-the-moment/tag/commodities) [#gold](https://blog.syzgroup.com/syz-the-moment/tag/gold) ![Gold volatility is now the global cross-asset volatility outlier (silver too, though that market is essentially broken for now).](https://blog.syzgroup.com/hubfs/3-Jan-28-2026-11-21-16-1132-AM.jpg) ![Gold volatility is now the global cross-asset volatility outlier (silver too, though that market is essentially broken for now).](https://blog.syzgroup.com/hubfs/3-Jan-28-2026-11-21-16-1132-AM.jpg) 27 Jan 2026 - - - #### Who really holds the world’s gold? • 🇺🇸 United States still dominates with 8,100+ tonnes • 🇩🇪 Germany remains Europe’s anchor • 🇮🇹 🇫🇷 🇷🇺 all sit around 2,300–2,450 tonnes • 🇨🇳 China keeps climbing, quietly • 🇨🇭 Switzerland punches far above its size • 🇯🇵 🇮🇳 hold far less than their economic weight [#Commodities|](https://blog.syzgroup.com/syz-the-moment/tag/commodities) [#gold](https://blog.syzgroup.com/syz-the-moment/tag/gold) ![Who really holds the world’s gold?](https://blog.syzgroup.com/hubfs/7-Jan-27-2026-01-23-16-2956-PM.jpg) ![Who really holds the world’s gold?](https://blog.syzgroup.com/hubfs/7-Jan-27-2026-01-23-16-2956-PM.jpg) ❮❮ [❮](https://blog.syzgroup.com/syz-the-moment/tag/gold/page/7) [6](https://blog.syzgroup.com/syz-the-moment/tag/gold/page/6) [7](https://blog.syzgroup.com/syz-the-moment/tag/gold/page/7) [8](https://blog.syzgroup.com/syz-the-moment/tag/gold/page/8) [9](https://blog.syzgroup.com/syz-the-moment/tag/gold/page/9) [10](https://blog.syzgroup.com/syz-the-moment/tag/gold/page/10) [❯](https://blog.syzgroup.com/syz-the-moment/tag/gold/page/9) [❯❯](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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