MACRO WEEKLY | GOLD’S FOUR PRICES: WHY BULLION BECAME THE PhD OF THE MACRO MARKET
Four different examiners are grading gold right now, and only one of them has been passing all year.
Central banks bought at a record pace, real yields fell, the dollar stayed on the back foot, and the tape still spent August unwinding a January blow-off top.
Four different examiners are grading gold right now, and only one of them has been passing all year.
EXECUTIVE THESIS
Gold spot sits near 4,350 dollars an ounce, up roughly 27.8 percent year over ye…
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