Some other conspiratorial points about Gold strength have to do with its continued usage as neutral reserve asset for trade settlement in BRICS and away from US$/UST. This week, China leadership is in Saudi talking to MBS about various things but including pricing oil in RMB.…
— Craig Shapiro (@ces921) September 12, 2024
Gold just hit another all time high despite:
1. Markets pricing-out a 50 basis point rate cut
2. Markets pricing-out geopolitical risk worries
3. Market volatility dropping to new monthly lows
4. Monthly inflation data coming in above expectations
5. Markets pricing-out… pic.twitter.com/ZiBhoB0SyU— The Kobeissi Letter (@KobeissiLetter) September 13, 2024
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