Founders: First Look. DB Gets Back into Gold
Founders AM |
Housekeeping: Good Morning.
Good morning plenty of analysis out this morning. It would seem that trading desks loaded with panic-stricken pearl clutching MAG-7 longs have had time to think and at least write more lucidly this morning.
The featured section today has two pieces; one is Deutsche Bank raising their price target in the midst of all this with a brand new report. That's kind of insane to do. It shows us that there is buying interest on the dip in Europe now. Shows that Deutsche Bank may also be interested in getting back into the market that they used to be so dominant in Europe. Whatever the reason, Deutsche Bank is getting back into the metals market in a bigger way. And Deutsche Bank risk represents the German government risk essentially.
A little meta-observation, banks are now competing for gold investment money. No longer competing for producer selling. Growing asset class that they will seek to put their clients’ money into to prevent it from leaving the bank altogether. That will be written up for Premium this week as well after drilling down on it.