PBUG News and Press, Barclays Bank PLC ZC SP ETN PERPETUAL USD From 08/27/22

Summary The Labor Department reported a substantial rise in the number of jobs for July. The Fed is getting more and more hawkish. This made the USD appreciate and the gold prices plunge lower. The introduction of a gold standard or any form of fiat money linkage to gold is li...

Summary Since October 2020, the number of outstanding shares in GLD has declined 22%. Historically, a decline in SO during an extended, price consolidation is a positive indicator of higher GLD. This conclusion is supported by the commitment of trader data in gold. Producers are g...

Summary Gold saw the largest delivery volume in 2022 with 33,593 contracts delivered so far and 244 remaining in open interest. Since 2020, only December and February last year recorded larger volumes. Unlike past months, the large volume was not really driven by mid-month net...

Summary Funds went slightly long again as Gold rose to 1,824 but have been cutting those longs as Gold fell back. Open interest is at its lowest level since May 2019, when Gold was in the 1300s. We need to see at least a pause in rate hikes or an abandonment of QT to confirm t...

Summary The Fed announced it would begin hiking interest rates, raising them above the near-zero level it had been maintaining. As the Fed has continued to hike interest rates, the inflation-adjusted yield of a 10-year U.S. Treasury would rise as well. Fed's current strategy f...

Gold has broken through $1800 at least 10 times over the last two years, sometimes in an explosive fashion. Silver is similar to gold with the price ($19.07) also falling back below the 50 ($20.02) and 200 ($22.69) DMA. The gold miners have been very consistently leading the price...

Gold has an inverse correlation to real yields, such that when real yields rise, Gold falls, and vice-versa. The RSI and the MACD are at extreme lows now that are consistent with the beginning of prior rallies in TIPS, i.e., far lower real yields, which typically translates into far h...

The energy sector led during the month of July, providing almost all of the positive performance due to a strong rally in natural gas prices. The heat wave from late June into early July in the lower Midwest U.S. killed cattle, quickly reducing supply. However, both cattle and hogs ra...

While Comex deliveries have been very elevated for over two years, most of the metal was going back and forth within the Comex vaults. The past few months have seen a major acceleration of gold leaving the Comex. Unlike gold, silver has not yet started leaving the Comex system in ...

While gold appears weak in the U.S., it is trending toward all-time-highs in most other developed economies. Gold's weakness in 2022 is primarily attributable to Europe and Japan's avoidance of interest rate hikes, which has boosted the U.S. dollar's relative value. In the future,...