Commodity Flows

Commodities are nowhere near bubble territory.

Bonds are Trash

Interest payments as a % of total U.S. debt have bottomed out (red line). It is projected that in 2030, you'll be paying 2 trillion interest on 40 trillion debt per year. 

The red chart is correlated to bond yields. Bonds are called trashuries for a reason.

China Sell Real Estate For Gold

China fleeing real estate for gold. 

Flash PMI S&P Global Vs. Unemployment Rate

The flash PMI from S&P Global gives a leading indicator for the U.S. unemployment rate.

 

Zinc TC Rates: Going in a bull market

Zinc deficits are coming. TC rates are falling. 

Stagflation: Oil Vs. Gold

We are headed into stagflation.

Best performing asset is gold.

Not oil.

Stagflation is trending.

HUI gold miners Vs. FCF yield

Based on FCF yields, gold miners are undervalued. 

China FX Outflows Vs. Gold Premium

When Chinese flee FX market, they flock into gold. 

Debt Vs. Yield

High debt is low yield.

Gold Miners Percentage Of Global Assets

Gold miners are the place to be. 

African Risk

Africa risk map.

J.P. Morgan

When J.P. Morgan became a custodian on 06-Dec-2022, gold and GLD diverged.

Gold Forecaster Index: When the Retail Joins

 

Copper looks bearish

Copper isn't looking too good.

Bonded copper premiums aren't high.

 LME is trading below SHFE.

Scrap copper isn't looking good.

Inventories are rising.

Copper social financing dip.

COFER Data Shows USD losing luster

COFER data shows the U.S. dollar is losing share.