20% gold allocation

 

Call on OPEC

The call on OPEC is the amount of oil OPEC needs to produce to balance the oil market.

When the call on OPEC drops, there is less need for oil and the oil price will drop.

COFER data: USD falling

U.S. dollar drops to lowest allocation in history.

 

OPEC Production Increase

Buhbye oil.

FOMC Dot Plot September 2024

FOMC dot plot September 2024:

FOMC dot plot March 2024:

Iron ore to drop below $80 in 2025

Bank of America says iron ore will drop below $80 next year.

https://www.mining.com/bank-of-america-sees-copper-price-surging-above-10000-iron-ore-slipping-below-80-by-2025/

India buying the dip in gold

Is this the gold bottom? 

Job hiring is worse than covid

The job hiring rate is worse than during the pandemic. 

China Diesel Consumption is Down

China oil consumption is down. 

Uranium is going nowhere

Uranium stays at $80. 

Oil: Diesel and gasoline demand

Will be flat.

Gold Fractal Breakout

Big breakout in gold coming.

Deficits are staying

Don't expect deficits to come down anytime soon.

China oil displacement with EV

EVs are taking over diesel demand in China. 

IEA Oil Demand and Supply

Oil is going into surplus. 

Capital Intensity Vs. Performance

Low CAPEX is better than high CAPEX. 

Chinese Steel Mills Unprofitable

It's not looking good for steel, iron, nickel and zinc.

Indian oil demand slowing

Indian oil demand is slowing.

Russia to buy 30 tonnes of gold in September 2024

Russia to start buying gold. 

Job Opening Dropping

More data suggesting higher unemployment rate.

Gold Forecaster Index: Buy Gold, Avoid Everything Else (04-Sep-2024)

 

Unemployment Rate Vs. Gold/Silver Ratio

The Unemployment Rate is correlated with the Gold/Silver Ratio.

 

Central Banks Buying Gold

Central banks do like gold.