Precious Metals
Highlights German bunds and Swiss bonds are no longer haven assets. The haven assets are the Swiss franc, Japanese yen, and US T-bonds. Gold is less effective as a haven asset. During this year’s coronavirus crash, the gold price fell by -7 percent. As such, our haven asset of choice for a…
Highlights Fear of deflation – especially at current debt levels – will keep central-bank policy looser for longer. As a result, monetary authorities will do whatever it takes to revive inflation and inflation expectations to move policy rates away from the zero lower bound. EM income growth…
Despite Short-Term Risks, Precious Metals Remain Attractive…
Metal Demand Is Set To Firm Up…
Silver Is A Cheaper Inflation Hedge Than Gold…
Commodities Are Oversold…
Gold Miners Will Take A Rest…
Reinstate The Long S&P E&P/Short Global Gold Miners Trade…
Transportation Stocks And Gold Argue For A Correction, Not A Renewed Bear…
Highlights With interest rates near zero around the world, balance sheet policy will become an important driver for currencies. Should the global economy need another dose of monetary stimulus, yield curve control (YCC) and direct financing of governments will increasingly be the policy tool…