The acceleration in Gold has been nothing short of breathtaking in the past two years. It's basically what every "Gold Bug's" fever dream was since 2008. Sometimes things take way longer to unfold, but then they unfold in a hockey stick-like manner.
That Shanghai chart is important, and also don't forget that the PBC does not report their Gold purchases openly & correctly.
They will hold more in their vaults nowadays than visible in your chart #2, probably even much more judging by Gold outflows in COMEX.
The Gold holdings are just a sign that trust is lost and this is accelerating with Trump's trade wars (as is DXY decelerating since then).
I am just writing a 4-part series where Gold plays an essential role to explain things for anyone who wants to read some general primers - (Part 1 & 2 are live, 3 coming this Friday, 4 next week)
It could, but I wouldn't go so far as to make such extreme predictions. It is certainly an asset that, in my opinion, will continue to perform well and is definitely worth holding in your portfolio, without a doubt.
The Shanghai Gold Warrants chart is probaly the most underappreciated signal here. China building its own clearing infrastructure outside London fundamentally changes the pricing power dynamics. That 53% return in 2025 combined with the volatility adjusted return of 3.0 shows this isn't speculative froth but structural reallocation.
The acceleration in Gold has been nothing short of breathtaking in the past two years. It's basically what every "Gold Bug's" fever dream was since 2008. Sometimes things take way longer to unfold, but then they unfold in a hockey stick-like manner.
That Shanghai chart is important, and also don't forget that the PBC does not report their Gold purchases openly & correctly.
They will hold more in their vaults nowadays than visible in your chart #2, probably even much more judging by Gold outflows in COMEX.
The Gold holdings are just a sign that trust is lost and this is accelerating with Trump's trade wars (as is DXY decelerating since then).
I am just writing a 4-part series where Gold plays an essential role to explain things for anyone who wants to read some general primers - (Part 1 & 2 are live, 3 coming this Friday, 4 next week)
Part 2 - The Rise and Fall of Money:
https://substack.com/@realmontycarlo/p-177375623
Excellent point, thank you for your insight and for adding value to this piece.
Equity Management Associates thinks gold could go to $30 K an ounce in a “monetary panic”. https://substack.com/home/post/p-177825737
It could, but I wouldn't go so far as to make such extreme predictions. It is certainly an asset that, in my opinion, will continue to perform well and is definitely worth holding in your portfolio, without a doubt.
The Shanghai Gold Warrants chart is probaly the most underappreciated signal here. China building its own clearing infrastructure outside London fundamentally changes the pricing power dynamics. That 53% return in 2025 combined with the volatility adjusted return of 3.0 shows this isn't speculative froth but structural reallocation.
Agree 100%!