PBUG News and Press, Barclays Bank PLC ZC SP ETN PERPETUAL USD From 10/28/22

Summary Gold and gold stocks are entering their strongest seasonal span of the year. Gold’s big winter rally is fueled by outsized demand first from holiday jewelry buying, then investment buying. Gold and its miners’ stocks have strong tendencies to rally big betwee...

Summary India is almost in the middle of its annual festive season, when demand for gold and silver peaks. Global bullion prices currently range about $1,700 an ounce, with a net drop of around 8% in dollar terms in CY2022. Indian gold rates are influenced mainly by US interes...

Summary Due to the Fed's rate hike regime, the Dollar Index has been rallying since the summer of 2021. A drop below the 50-day and then 110 would signal that the uptrend has been broken. One should expect the U.S. Dollar Index to anticipate the eventual Fed policy reversal an...

Summary Since breaking below $1700, gold has been trapped around $1650. Silver saw a strong rally above $21 but then broke down below $20 again. While many indicators are bearish, the absolute lack of interest shows that the market is starting to bottom. ...

Summary October gold saw very strong delivery for a contract that is neither major nor minor (10x bigger than minor but 1/10th the size of major). Total contracts delivered so far (22,450) is 20% larger than last October and still has about 800 contacts remaining in Open Interest....

Summary On a weekly basis, we can see that Gold remains in a bullish flag pattern. Silver more often than not disappoints, then one day, it just goes ballistic. The level of desperation has reached the point where the Treasury asked primary dealers if Treasury should buy back ...

Summary We've been waiting all year for the eventual Fed "pivot", but there are no signs of it yet and, for now, COMEX precious metal prices continue to fall. In our annual forecast we wrote back in January, we stated that "2022 was going to be a volatile and unpredictable year", ...

Summary There is more evidence of how European central banks are equalizing their monetary gold reserves proportionally to Gross Domestic Product. The fact that several European central banks (The Netherlands, Austria, France, Germany, Hungary, Poland) repatriated gold in recent y...

Summary Resource equities continued to exhibit remarkable resiliency during the quarter, with the S&P Global Natural Resources Index outpacing global equities and global bonds over the 3-month period. Macroeconomic themes mostly continued to dominate all resource equity-relate...

Summary The relentless fall in gold inventories continued again in October. While the overall vault decrease has slowed somewhat, the fall in Registered (925k) has already exceeded the total in September (600k) and will more than likely eclipse June (942k). The story in silver...