Breaking: Tariffs Drive Weekend Gold Prices up 3%
PAXGold up 3% +
Attached at bottom are the following with GoldFix quick takes
BOA CTA Analysis- Getting long.. not long enough yet
JPM Flows- lots of charts
DB Flows- more buying
WGC: Aussie Gold shines more
Tariffs Drive Weekend Gold Prices Up 3%
Gold is called up 3% based on PAX trading.
It is also a good indicator outside of trading hours on weekends for the direction, not the magnitude of the open of US trading.
During the Covid crisis it was a handy tool for price action as an oscillator and a great sentiment indicator on weekend news like this
As it grows in acceptance, it will likely be used during off hours to spoof gold just any mini futures product is. But for now, it is a good measure of retail fomo and likely CTA interest right now
Pax is arbed during US trading hours and kept in line… See below
There is no reliable proxy for Silver. Right now, use a conservative 1.25x as a coefficient for Gold, given the Central bank gold buying.
Historically the coefficient is more like 2.0% on event driven moves like this. Given that Silver is industrial it should actually be bigger than 2.0x.. but not holding our breath.
We’re long Silver and Bonds betting on Tariffs to cause a semi-stagflationary impulse initially
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