Housekeeping: Good Morning.
“The reset is a process, not an event.”
Today
Discussion 1: Gold Soars $145 in 48 hours as China Takes Charge
Discussion 2: Goldman: Gold to Continue Outglittering Silver
Price Action decoded
Analysis:
Goldman: Gold to Continue Outglittering Silver
We believe this is an attractive entry point for long-term gold exposure. Speculative positioning is light and has significant room to rebuild.
Goldman: Gold to Continue Outglittering Silver
·In the latest missive from the Goldman Sachs Precious metals team, headed by Lina Thomas and Daan Struyven they weigh in on recent calls for Silver to close some of the distances with Gold. Here is that analysis broken down for Premium Subscribers.
The gold-silver price ratio, which historically traded in a 45-80 range, has broken out of this range since 2022. Since the freezing of Russia’s reserves in 2022, gold has structurally decoupled because of the fivefold increase in gold purchases by central banks, which don’t buy silver.
Comment: This is how crowded trades start
Full analysis here
Data on Deck:
TUESDAY, MAY 6 8:30 am U.S. trade deficit March-$136.0B-$122.7B1
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