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In today's FT, "around 13 per cent of advanced economies plan to increase their gold holdings in the next year, up from around 8 per cent last year".
Update on the gold to CPI ratio, that has been moving in wave-like fashion over time. The smaller ebbs and flows suggest that gold has tracked reported inflation closer in recent time. Could we be on the verge of a historic breakout in the ratio? Or could the ratio form another 'cup', with gold underperforming US inflation at the margin in the near future?
My Exness review
Exness has a great user interface and detailed charts. I also like the range of Forex pairs, and crypto tokens. From memory, they list around 90 currency pairs, and 10 crypto-currencies, which is more than I could ask for.
Deposits and withdrawals are generally quick, but customer support could be better.
1 to 3 months with Exness
Saudi Arabia's petrodollar agreement ended today. 80% of the oil traded is priced in oil, but as more and more countries trade oil in their own currencies, demand for the dollar will fall over time, driving up the price of dollar-denominated assets like oil, gold and commodities.
https://kitco.com/news/article/2024-06-13/saudi-arabia-ends-petrodollar-agreement-what-it-means-u...
Earlier this year, Russia announced through TASS, its new agency, that BRICS is working on a blockchain based payments system.
https://tass.com/politics/1755521
This Wednesday could be particularly volatile, with a core CPI release and an FOMC decision.
UBS recommends to 'buy the dip' in gold between USD 2,250 and 2,300 per ounce, in a note published this week.
https://www.ubs.com/us/en/wealth-management/insights/market-news/article.1617546.html
A few weeks ago, Jamie Dimon and Ray Dalio expressed concerns over the size of the US deficit. Now the IMF is also raising the alarm over growing debt levels in 'advanced economies'...
Insiders selling gold ahead of the NFP?
Notice how the price of gold on COMEX sold off as the market opened at 8am, 30 minutes before the NFP report. To me, it's clear that insiders had private information and acted on it.
Anyone else frustrated with Bitcoin right now?
We've just come out of what appears to be a reserve head and shoulders pattern, which suggests that the uptrend should continue. But we keep facing resistance against this down-slopping trendline. I was hoping we'd clear that hurdle yesterday, on the 4th attempt.
My Plus500 review
The range of markets is impressive, especially if you want to trade stocks.
You need to be mindful about currency conversion fees, because Plus500 will charge you every time you buy or sell instruments denominated in a currency other than your own. For example, if you fund your account in Euros but trade US stocks, a currency conversion fee will apply on every trade. There's little transparency around this, even though these fees can eat into your profit.
1 to 3 months with Plus500
