Central Banks Secretly Buying Gold via Hong Kong

Koos Janssen provides evidence that central banks are saving the gold price.

Neutral price of gold and copper

The neutral price of gold (derived from Shanghai gold premiums) and the neutral price of copper (derived from Chinese scrap copper premiums). Gold is outperforming copper.

Gold Vs. TIPS Yield

Gold and TIPS are correlated. 

QT and Rate Cuts

The next stage will be QT and rate cuts. Bond yields rising and fed funds rate dropping means uninversion of the yield curve. That is bullish gold. 

China Is Selling U.S. Trashuries

No end in sight. 

Sprott Holdings Update

Sprott holdings update.

Sprott bought: Orla Mining, IAMGold, Teck Resources, Endeavour Silver

Sprott sold: mostly silver and lithium miners: PAAS, SILV, MAG, SBSW, GATO, MUX, ALB 

China power consumption reaches all time high

China reaches all time high in power consumption. 

Bond Yields Going Much Higher

As fiscal spending rises along with less money printing. Bond yields will soar. 

 

Natural Gas Supply to Europe

Natural gas supply to EU is down. 

Gold Forecaster Index: Central Banks Saved Gold (08-Aug-2023)

 

Gold outperforms bonds

Gold has outperformed bonds over the last month. 

China buys the dip in gold

China likes to buy dips in gold. 

Bond yields will soar

Yellen is about to borrow 1 trillion dollars in Q3. Bond yields will soar.

Marc Faber expects bond yields to reach 15%.

How do we position ourselves? Buy gold!