BRICS

The collapse of the correlation between the gold price and real interest rates raises many questions. In the old paradigm, it was unthinkable that the gold price would trend firmer during a phase of sharply rising real interest rates. Gold and gold investors are now entering terra incognita.

Gold will probably continue to rise until ETF outstandings reach their highest levels, which is still a long way off. Especially as demand for physical gold remains very strong. Despite the high price of an ounce of gold, central banks continue to buy precious metals on a massive scale.

We'll try to understand how a recession manifests itself and how long it takes to materialize. As a reminder, recessions are often beneficial for gold price growth.

Current history shows a decline in US monetary hegemony, marked by a series of de-dollarisation announcements and a reduction in dollar reserves in central banks, signalling a change in international trade, particularly in commodities such as oil.

As we near the end of a monetary era, key dominoes like political stability, currency, and debt will fall, causing social unrest, war, and economic collapse, with gold becoming a critical stable asset and its value significantly increasing.

Tavi Costa emphasizes the importance of identifying macroeconomic trends, particularly the growing shift towards hard assets like gold amidst global inflationary pressures and geopolitical changes. He points out the rising demand for commodities like copper and the underinvestment in precious metals...

US markets hit new highs thanks to the rise of technology stocks, notably NVIDIA, while European households prefer bank savings. At the same time, China and other BRICS countries are increasing their gold reserves, moving away from the dollar.

India's central bank has moved around 100 tonnes of gold from the UK to its domestic vaults, with plans to repatriate more soon, according to a TOI report. This significant transfer, the first since 1991, addresses logistical and storage diversity concerns.

The New Gold Playbook reflects changing market dynamics driven by central bank actions, geopolitics, and the rising importance of noninflationary assets like gold and Bitcoin.

It seems likely that last year's silver shortfall will be repeated next year. Current supply is unable to keep pace with ever-increasing demand.