Japan's Largest Bank on Gold
Tactically Neutral Structurally Bullish
Mitsubishi UFJ Financial Group, (MUFG) Inc. is a Japanese bank holding and financial services company headquartered in Chiyoda, Tokyo, Japan. It is Japan's largest financial group and the world's second largest bank holding company
Comment: Given the recent Yield Curve Control abandonment in Japan, this is a timely analysis considering Japan has reportedly been a buyer recently on the back of a weaker Yen.
Bottom Line:
They like that Gold has held immediate gains post CPI
Real Rates didn’t hurt Gold much on way up, it should help on their way down
Historically, chronic Middle East wars without Oil risk erode Gold gains
Central Bank buying shows no signs of letting up yet
Tactically neutral (War premium may have more to come out counterbalanced by The CPI reaction) Structurally Bullish
Contents:
Gold Looks Very Good Post CPI
Bond Rally Closes Gap in Real Rate Risk
Geopolitical Comment. Don’t Get Hopeful
Gold’s War Risk Premium Analysis
Central Banks Still Buying, Even if Managed Money is Not
Bank’s Price Forecast
Technical Levels