The YTD performance of gold is the best since 1979
Source: Augur Infinity
Interesting theory...
The Shanghai Gold Exchange (SGE) has activated two overseas vaults—one in Saudi Arabia, the other in Hong Kong—marking a direct expansion of RMB-denominated gold trading beyond mainland borders. This move represents a strategic move to enhance China’s gold trading infrastructure and strengthen the SGE’s role in global gold price discovery. These aren’t symbolic moves. They’re operational. They’re live. Source: Alasdair Macleod @MacleodFinance
A golden year so far...
Source: GoldSilver HQ
Gold stocks have crushed every sector of the S&P 500 this year
Source: Tavi Costa, Bloomberg
"The Ukraine war and the weaponization of the dollar was the straw that broke the camel's back"
Source: zerohedge
Will Silver be next?
Source: Trend Spider
Gold is overshooting its time trend by 5 sigma
While the real gold price (after adjusted for U.S., CPI) is at the record highs, as this Alpine Macro chart shows. Source: Chen Zhao
According to the FT:
Tether, the world’s biggest stablecoin company, has held talks about investing in gold mining, seeking to deploy its vast crypto profits into bullion. -> FT: "The company has held discussions with mining and investment groups about investing in the entire gold supply chain, from mining and refining to trading and royalty companies, according to four people familiar with the recent talks. While gold has been a physical store of value for thousands of years and bitcoin has only existed as a digital instrument since 2009, there is a growing affinity between some industry executives. Tether chief executive Paolo Ardoino has likened gold to “natural bitcoin”. “I know people think that bitcoin is ‘digital gold’,” he said in a speech in May. “I prefer to think in bitcoin terms, I think gold is our source of nature.” However, within the conservative gold mining sector, Tether’s interest has been greeted with surprise and questions about whether the unconventional newcomer will succeed. “They like gold. I don’t think they have a strategy,” said one mining executive. Source: FT
