Note that Hamilton is talking about fake Comex paper gold and not real physical gold. Institutions that buy "gold" will go long Comex contracts and GLD. GLD is a derivative of gold too in that it indexes the price of gold but there's not any bona fide accountability of the gold that is held by the Trust. With Comex contracts. That said the banks still have the ability to somewhat control the directional movement of the price using contracts. On the other hand, overbought/oversold and RSI/MACD does not apply to physical gold (stated emphatically). The only "technical" condition of gold is that it is extremely under-owned relative to pre-1980's levels, when institutions held over 5% of their assets in gold, and Bretton Woods, when the Central Bank standard was 40% of reserves. I think Russia has 20% in gold, at least based the holdings it discloses. We don't know China's (the PBoC) actual amount of gold held.
Note that Hamilton is talking about fake Comex paper gold and not real physical gold. Institutions that buy "gold" will go long Comex contracts and GLD. GLD is a derivative of gold too in that it indexes the price of gold but there's not any bona fide accountability of the gold that is held by the Trust. With Comex contracts. That said the banks still have the ability to somewhat control the directional movement of the price using contracts. On the other hand, overbought/oversold and RSI/MACD does not apply to physical gold (stated emphatically). The only "technical" condition of gold is that it is extremely under-owned relative to pre-1980's levels, when institutions held over 5% of their assets in gold, and Bretton Woods, when the Central Bank standard was 40% of reserves. I think Russia has 20% in gold, at least based the holdings it discloses. We don't know China's (the PBoC) actual amount of gold held.
Thanks Dave!
We shall see if its different this time. Things are not normal behind the wizard’s curtain.
Excellent analysis Adam. I wish you had published it before I bought at the absolute top 😂✊