This is truly incredible: Gold prices are now officially up +50% over the last 14 months and made ANOTHER all time high. In fact, gold's market cap just hit $20 TRILLION for the first time in history. Why are people still piling into gold? Let us explain. https://x.com/KobeissiLetter/status/1892596245794783617
Just to explain how strong gold has been, take a look at this chart: Since late-July, gold prices are up ~24% while the US Dollar is up ~2% and the 10-year note yield is up ~8%. While gold and rates/USD typically have an inverse correlation, they are rising TOGETHER. Why? https://x.com/KobeissiLetter/status/1892596247887781958
Furthermore, physical gold buying is SKYROCKETING. Gold inventories in the 3 largest COMEX gold vaults just surged by 15 MILLION ounces in 2 months. That's a +115% increase, putting physical gold holdings ABOVE 2020 pandemic levels. There has been a CLEAR shift in sentiment. https://x.com/KobeissiLetter/status/1892596250119168237
Meanwhile, gold demand in Asia has never been stronger. China’s gold reserves hit a record $73.5 billion last month. India’s gold reserves reached $70.9 billion, also an all-time high. Meanwhile, global gold demand jumped 24% year-over-year in 2024 to a record $382 billion. https://x.com/KobeissiLetter/status/1892596252321210802
It continues to feel like gold is rising due to longer-term macroeconomic concerns. Particularly, the US debt crisis and inflation are in focus. Since the pandemic, US national debt has soared by $13 trillion while the US dollar lost ~25% of its value. Markets are worried. https://x.com/KobeissiLetter/status/1892596254539923795
Our premium members have been buying gold for months. We bought the dip into January and called for $2,850+. Once $2,850 was broken, we began calling for $2,950 which was just crossed. https://x.com/KobeissiLetter/status/1892596258340065772
It's particularly interesting that China is SELLING US Treasuries and buying gold. Due to interest rate instability, inflation, and a soaring $1.8 trillion annual US deficit, gold is shining. We believe gold has become the global safe haven asset. The divergence is telling. https://x.com/KobeissiLetter/status/1892596260323955157
And, the flight to gold hasn't just been in China. In fact, Poland, Turkey, India and Azerbaijan bought MORE gold than China in 2024. We have seen 3 consecutive years with 1,000+ tonnes in net gold purchases by central banks. This has never happened before in history. https://x.com/KobeissiLetter/status/1892596262492364893
Just last week, when gold fell in to $2900 support, we posted the below alert for our members. This has led to a +$70 rebound since for another solid dip buy in gold. The technicals are CLEAR. https://x.com/KobeissiLetter/status/1892596264664961493
Additionally, as trade war worries have mounted, gold demand has risen. Bank of America's fund manager survey showed 58% of fund managers saying gold would perform best in a trade war. Even as a trade war means a stronger US Dollar, fund managers think it rises further. https://x.com/KobeissiLetter/status/1892596266749530319
What's even more impressive is that gold is rising WITH the S&P 500. In fact, gold has more than DOUBLED the S&P 500's YTD return. In 2024, gold and the S&P 500 had an unprecedented correlation of ~0.81. https://x.com/KobeissiLetter/status/1892596268880322954
