Gold

The analogue crypto puke is on.

The Market Ear on the gold puke.

Markets are repricing across the spectrum for a Trump win but not analogue bitcoin when it is arguably one the most vulnerable.

I have been on board with the gold rally given Fed rate cuts and geopolitical tensions but it’s gotten well overheated.

The gold price pulled back last week after testing resistance, says BofA.

Goldman with the note.

The Market Ear with more.

RBC makes the point I have been making for several months now.

AEP with his take on why gold has decoupled from traditional drivers.

Wiping the egg from my face, I refer back to my recent post “Goodbye gold“.

I am a gold trader from way back.

The Market Ear with the detail.

Michael Hartnett at BofA has a warning for gold bugs: Sell gold: gold returns negative 7/10 times after last hike, avg-13% returns 3 months post last Fed Hike in inflationary cycles…love gold long-term but if dollar has risk-off, gold back below $2000.

Credit Agricole with what strikes me as a good guide to the year ahead for DXY.

It is over time, actually.

BofA with the note.

I am definitely bullish gold in 2023.

He’s been wrong so far.

Can we finally put pay to the hodler notion that BTC is digital gold?

From JPM comes the understatement of the century: The financial stability risks of stablecoins The financial stability risks of stablecoinsAmong the more interesting and potentially impactful developments of explosive growth in cryptocurrency markets has been the advent and broadening acceptance of stablecoins.

Still suffering from the crash resulting from its now-notorious four-headed hydra pattern, Bitcoin joined another chartist’s nightmare yesterday, breaking the neckline of its monstrous head and shoulders top: The drover’s dog can tell you that opens up big technical downside.

JPM with the note: On June 8, El Salvador approved in congress a law that granted bitcoin status as legal tender, which will be implemented on September 7, assuming as we do the Supreme Court of Justice rejects challenges to constitutionality.