PBUG News and Press, Barclays Bank PLC ZC SP ETN PERPETUAL USD From 09/27/22

Summary Inflation-adjusted interest rates are rising, rapidly. The lightning surge in real yields has a wide range of implications for macro and markets - a change that is now front and center for monitoring risk factors. As real yields rise further, the allure of locking in h...

Summary Spot gold is trading at its lowest levels in more than two years and has fallen more than 20% from its recent peak in March, pushing it into a bear market. Despite sticky inflation, real yields have also been climbing. 10-year real US yields have reached their highest leve...

Summary The market is now oversold which could lead to a short-term bounce. Open interest is at multi-year lows, and likely only increasing slightly in recent days due to shorts entering the market. The gold miners have been very consistently leading the price of gold in both ...

Summary The Gold and Inflation test - and results. The Gold and Real Rates test - and results. The perfect storm with global inflation and market deflation. This should be gold's time to shine . In a time of high global inflation caused in part by massive mon...

Summary Federal Reserve meeting was held this week and the committee headed by Chair Jerome Powell concluded by announcing a 0.75% interest rate hike. "No one knows whether that process will lead to a recession or how significant a recession it will be," Powell said. "I don't know...

Summary Gold has consistently traded below its 50-DMA over the past few months, while the 200-DMA is fairly flat. Over the past several days, it has been trending sideways right near 52-week lows. Silver rallied in the first half of September, moving back above its 50-DMA in the p...

Summary September gold has been a very strong delivery month with 8,573 contracts being delivered plus an additional 718 in open interest that will be delivered over the next week (9,219 total). Jumping ahead to October shows a slight elevation in open interest contracts relative ...

Summary Through the month of September, we've been on "Crash Watch" over concerns that a global equity market drop could lead to a liquidity-driven margin call across all asset classes. The watch continues through this week's FOMC meeting and then into October. The major drive...

Summary Over the last month, gold has seen Registered fall by 10.2%, or 1.4M ounces. Silver has seen massive outflows MoM with 3 vaults seeing almost 10% or more reduction. There are now 3.4 paper contracts for each ounce of Registered gold within the Comex vaults. ...

Summary The first half of the year saw GDP contract slightly and GDI expand slightly, and I interpret that as little to no growth. The money market futures I follow and the market based models I track all put the peak in rates somewhere between March and June of next year. I d...