Ann: General Security Agreement, page-417

Data up to 9 March 2021 Below. The trend continues as the bullion banks have further covered their short positions. The Managed Funds are basically completely out of the futures market now. Still a strong position from the Other Reportables (we don't know the identity of this category s it could be anyone).

On a separate matter. Over the past 2 weeks, the movement of the POG has been inversely correlated with movements to the US10yr T yields. Last night, we saw the opposite, the 10 yr yield spiked to highs of 1.629%, however, POG did not move down and went the opposite direction. Also, the stock markets were up and set new record highs. Usually when you see this happen, it's a sign that inflation is becoming a real worry. When inflation runs hot, there will be a rush out of CASH and into assets, Gold being the best asset class to hold because it is universal money and currency crisis proof. Continue to monitor and watch the 10Yr yields and correlating markets.