Barclays Recommends Shorting Gold and Miners Today- Our Take
A lot of fresh content
Housekeeping: Have a good one
Market Rundown:
Good Morning. The dollar is stronger by 24 points so far today. Bonds are slightly stronger. Stocks are up between 30 and 90 bps. Gold is unchanged. Silver is up 18 cents. Crude is down $3.30 now. Natural Gas is weaker by 17 cents. Crpyto is mixed, and Grains are all up. Wheat is up 5%??
Comment: The shorts continue to cover in Silver while Gold languishes. This smells like a small unwind of global open interest ( everyone is deleveraging) based out of Europe. Note how Silver behaved yesterday after the US open. Therefore if Silver is up now, keep an eye on it after 11:30 US ET. when Europe closes for directional signs.
Notes:
Barclays: Gold at risk of falling through the (post-Covid) floor
This report hits all the usual reasons to sell Gold, nothing it says is wrong…
Full Goldfix detailed comments at bottom on how to read this
Lecture Notes for MBA class on Options Chapter 1
Notes from VBL’s September 6th Lecture to students
Goldman’s Morning Note
interesting description of the types of bear markets and common paths to the other side of them
Blackrock’s Weekly report
looks at recession and inflation fighting regime
CM Silver Technical Report
From Sunday- They think Silver may be near a bottom
Moor Gold Technical Excerpt
More at bottom 