😱 The shocking chart of the day: Too many goldilongs?😱
Momentum in gold remains powerful, but you are not alone being bullish gold here... The chart below shows CFTC net long minus short position in futures for the Managed Money category. Source: The Market Ear, JPM
Gold as the ultimate store of value?
Over the last decade, gold prices have more than DOUBLED, marking one of the best rallies in modern history. Over the last 5 years alone, gold is up 76% and on track to be the best-performing asset class of the year, excluding bitcoin. So why gold keeps rising? Ever-rising debt and money debasement seem to be the main culprits. Since the pandemic, US national #debt has soared by $12 trillion while the US dollar lost ~25% of its value. Source: The Kobeissi Letter, BofA
Gold continues to shine, trading at all time highs and up 34% since February.
To BAML, gold is frontrunning rate cuts. Or is it something else?
gold explained in one hashtag
Source: Wall Street Silver
UBS raises its gold targets
Source: UBS
Gold is now trading at 40-year extremes relative to its 200D moving average
Source: BofA, Barchart
Gold is just relentless: another day, another record high (4th in row) yesterday, up 30% on the year to $2662.
This is gold's best YTD performance this century! Source: www.zerohedge.com
Ahead of Oktoberfest... Life is all about liquidity!
Source: Ronald-Peter Stoeferle, CMT, CFTe, MSTA, Incrementum AG
