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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: bull_dozer who wrote (192592)	10/9/2022 8:08:06 PM
From: TobagoJack	Read Replies (1) \| Respond to of 217544

Re your cited tweet 'There's a global migration underway in the gold market, as western investors dump bullion while Asian buyers take advantage of a tumbling price to snap up cheap jewelry and bars.' https://t.co/OpVlRnXCiW pic.twitter.com/qYWV21xDua — Jesse Felder (@jessefelder) October 9, 2022 and I cite World Gold Council gold.org Imputably USA has more capability / capacity to export since 'only' 136 tons are exported out of 186 tons production. The complete Bloomberg article cited by the tweet I think the article might be wrong re <<Then, when gold eventually rallies again, much of it returns to sit in bank vaults beneath the streets of New York, London and Zurich.>> because this time might be a different time. Let us watch the annual tally when 2022 is done-done, and not just from Swiss export / import reckoning, but from all sources and destinations. The conclusion should remain the same, but numbers quite a bit higher as the chart in the Bloomberg article only covers 5-months span bloomberg.com The Gold Market’s Great Migration Sends Bullion Rushing East Western investors are dumping gold in response to rising rates. Sing Yee Ong 9 October 2022, 16:00 GMT+8 A gold store in the Dubai Gold Souk in Deira. Photographer: Yui Mok/PA Images There’s a global migration underway in the gold market, as western investors dump bullion while Asian buyers take advantage of a tumbling price to snap up cheap jewelry and bars. Rising rates that make gold less attractive as an investment mean that large volumes of metal are being drawn out of vaults in financial centers like New York and heading east to meet demand in Shanghai’s gold market or Istanbul’s Grand Bazaar. In fact, it can’t move fast enough. Logistical issues combined with quirks of the market are making it difficult for traders to get enough bullion where it’s wanted. As a result, gold and silver are selling at unusually large premiums over the global benchmark price in some Asian markets. “The incentive to hold gold is a lot lower. It’s going from west to east now,” said Joseph Stefans, head of trading at MKS PAMP SA, a gold refining and trading firm. “We are trying to keep up as best we can.” Gold items displayed in the window of a jewelry shop inside the Grand Bazaar in Istanbul, Turkey. Photographer: Nicole Tung/Bloomberg The rotation of metal around the world is part of a gold-market cycle that has repeated for decades: when investors retreat and prices drop, Asian buying picks up and precious metals flow east — helping to put a floor on the gold price during times of weakness. Then, when gold eventually rallies again, much of it returns to sit in bank vaults beneath the streets of New York, London and Zurich. Since peaking in March, gold prices have tumbled 18% as the Federal Reserve’s aggressive rate hikes caused mass liquidation by financial investors. More than 527 tons of gold has poured out of New York and London vaults that back the two biggest Western markets since the end of April, according to data from the CME Group Inc. and London Bullion Market Association. At the same time, shipments are rising into big Asian gold consumers like China, whose imports hit a four-year high in August. While plenty of gold is heading east, it’s still not enough to meet demand. Gold in Dubai and Istanbul or on the Shanghai Gold Exchange has traded at multi-year premiums to the London benchmark in recent weeks, according to MKS PAMP — a sign that buying is outstripping imports. Read: China Gold Prices Surge to Huge Premium as Demand Swamps Imports “Demand typically picks up when prices fall,” said Philip Klapwijk, managing director of Hong Kong-based consultant Precious Metals Insights Ltd. “Buyers want to source metal at the lower price and in the local physical market in question there may not be sufficient metal available when the price falls, so the local premium increases.” Gold in Thailand is also trading at a premium to London prices, due to a lack of supply and weakness in the local currency, according to Jitti Tangsithpakdi, the president of Thailand’s Gold Traders Association. In India, it is silver that is seeing big premiums. The differential has soared recently to $1, more than triple the usual level, according to consultancy Metals Focus Ltd. “Right now the demand for silver is huge as traders restock,” said Chirag Sheth, the firm’s principal consultant in Mumbai. “Premiums could remain elevated during the festival season that concludes with Diwali.” Analysts say that much of the precious metals feeding Asia’s appetite is coming out of vaults run by CME Group, which back the Comex futures market in New York. Market dislocations early in the pandemic drove a massive surge in prices there, forcing banks to build large stockpiles to cover their futures positions. In recent months gold has traded at a discount on the Comex compared to London, and those inventories are now being drawn down to meet Asian demand. However, it can be slow going, partly because Asian buyers tend to prefer one-kilogram bars over larger sizes. To fill a standard shipment box of 25 kg of gold, physical traders must take delivery of multiple Comex gold futures, often backed by bullion in different warehouses. Traders say they are facing other logistical challenges as well, which are contributing to the high Asian premiums. “Getting stuff on boats or on planes is a bit harder than it used to be,” said MKS PAMP’s Stefans. “It’s really just a classic example of demand far out-pacing supply.” — With assistance by Swansy Afonso, Suttinee Yuvejwattana and Masumi Suga

To: bull_dozer who wrote (192592)	10/11/2022 9:00:23 PM
From: bull_dozer	2 Recommendations Recommended By marcher Pogeu Mahone Read Replies (4) \| Respond to of 217544

Federal Officials Trade Stock in Companies Their Agencies Oversee Hidden records show thousands of senior executive branch employees owned shares of companies whose fates were directly affected by their employers’ actions, a Wall Street Journal investigation found • More than five dozen officials at five agencies, including the Federal Trade Commission and the Justice Department, reported trading stock in companies shortly before their departments announced enforcement actions, such as charges and settlements, against those companies. • More than 200 senior EPA officials, nearly one in three, reported investments in companies that were lobbying the agency. EPA employees and their family members collectively owned between $400,000 and nearly $2 million in shares of oil and gas companies on average each year between 2016 and 2021. • At the Defense Department, officials in the office of the secretary reported collectively owning between $1.2 million and $3.4 million of stock in aerospace and defense companies on average each year examined by the Journal. Some held stock in Chinese companies while the U.S. was considering blacklisting the companies. • About 70 federal officials reported using riskier financial techniques such as short selling and options trading, with some individual trades valued at between $5 million and $25 million. In all, the forms revealed more than 90,000 trades of stocks during the six-year period reviewed. • When financial holdings caused a conflict, the agencies sometimes simply waived the rules. In most instances identified by the Journal, ethics officials certified that the employees had complied with the rules, which have several exemptions that allow officials to hold stock that conflicts with their agency’s work. wsj.com