Tuesday: IGWT Chart Book

PM Posts | Bezos, BiS Blow up, Inflation Risks, and more

Housekeeping: This is the PM GoldFix post combining AM emails with additional intraday posts.

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Recap:

Market Recap: Gold made fresh All Time Highs, Silver takes back the margin hike drawdown and Option Vol is still lagging.

*Full Recap at Bottom

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Morning Rundown:

IMF Blows Up Brics mBridge

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Metals/Commodities:

In Gold We Trust Chart Book

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Macro-Economics:

Charts: Immigration Trends, Statue of Liberty Visits...

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Geopolitics/Elections:

Jeff Bezos: Why His Newspaper Won't Endorse Kamala Harris

Breaking: BiS to Quit mBridge

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Founders:

Tuesday: Under-Priced Inflation Risks, and Bitcoin Post Election

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Recap:

Reuters announced today that China is considering approving next week the issuance of over 10 trillion yuan ($1.4 trillion) in extra debt in the next few years to revive its fragile economy, a fiscal package which is expected to be *further bolstered* if Donald Trump wins the U.S. election, said two sources with knowledge of the matter. Here are the broad strokes:

• China to raise fresh debt via special treasury, local govt bonds

• Package includes 6 trln yuan to address local govt debt risks

• China to approve up to 4 trln bonds for idle land, property purchases

• Beijing may announce stronger fiscal package if Trump wins Nov. 5 election.

That is all Gold and Silver needed to rally today. But it was US based ETF buying that provided the bigger boost. Gold hit yet another new All Time High print and is on pace for another ATH close as well as of this writing. Silver recovered half its losses post the margin hike last week on its way back to 12 year highs.

We also note in the chart above, the correlation of Gold to Bitcoin is picking up now. The inflation re-ignition rally is broadening across commodities.

Cheers