JPM's First 2024 Gold Commentary
Goldman's Gold Block Trades Report
Comment: He may be right longer term as this is more strategic than tactical. But this release is poorly timed given the last few days.
Contents:
JPM On Gold in Context of Other Commodities
JPM Shift from government bonds to commodities in portfolio
Small Rebalancing of Energy and Gold Weightings- Profit taking
JPM Slide Deck
Goldman’s Metals Block-Trade Report
Gold in Context of Other Commodities
According to their calculations Gold’s war premium amounts to about $65 down from $175
Gold’s geopolitical risk premium cracks but still has room to further erode as the scale of the conflict in the Middle East has remained relatively contained for now.