China's Gold Appetite is Insatiable...
and Now Getting Mysterious
Good Afternoon. Welcome to Founders Friday: Hope all had a great Thanksgiving and are decompressing from the day. Equally hope all non-celebrants enjoyed their holiday from Americans making a mess of the markets!
Top 3 Attached below and worth mentioning:
Hartnett- quick easy read.. HE’S NO LONGER BULLISH STOCKS
He’s neutral, which this time of year (in this part of the monetary cycle) is also applicable to Precious Metals.
Buy season may be close to overbought, consider tightening your stop losses.. may be safe to hold, less safe to add1
TD on Gold, Silver, and Platinum (Broken out and commented upon here)
Goldman Mining Conference Interviews- Lithium, Gold, Steel, and Copper
China's Gold Appetite is Insatiable
…and Now Getting Mysterious
Don't look now, but the top gold traders in China have just added nearly 17.5 tonnes of notional gold to their books over the last week. Tracking of the top traders in Shanghai points to a massive accumulation of gold, just as signs of buying exhaustion appear in the West. After all, our advanced positioning analytics are pointing to buying exhaustion from both CTA trend followers, with today's session likely to mark the final (albeit marginal) buying program before prices break north of $2100/oz, and discretionary traders, given our gauge suggests they have now fully covered their book short.