Gold (XAU) • Break of important levels and strong momentum
Current global macro apparatus is forcing gold into being more bullish than anticipated.
With US and the world on Russia's FX Gold Reserves we are seeing live the change of the monetary system starting to be repriced in commodies like GOLD, Oil, Gas, etc.
The US Dollar is completely losing credibility as consequences of these monetary sanctions and it will have profound effects everywhere.
On the 3rd of March we effectively saw the end of the guarantees provided by US Dollar system. Everyone is on notice... specially the Chinese.
In the middle of all this I see the re-emergence of GOLD importance in global markets and it's demand for cash settled products instead of paper gold will certainly skyrocket.
It is impossible to be macro bearish on Gold under these circumstance from now on.
With US and the world on Russia's FX Gold Reserves we are seeing live the change of the monetary system starting to be repriced in commodies like GOLD, Oil, Gas, etc.
The US Dollar is completely losing credibility as consequences of these monetary sanctions and it will have profound effects everywhere.
On the 3rd of March we effectively saw the end of the guarantees provided by US Dollar system. Everyone is on notice... specially the Chinese.
In the middle of all this I see the re-emergence of GOLD importance in global markets and it's demand for cash settled products instead of paper gold will certainly skyrocket.
It is impossible to be macro bearish on Gold under these circumstance from now on.
D7R
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