Time to buy Gold - again

Buy a 1 year 7k digi for circa 8.5%

1. Gold in RMB terms is expensive but seasonal patterns around Chinese NY are supportive for Metals - Charts from Nicky Shiels at MKS PAMP below

2. ..its not only China buying Gold, National Bank of Poland etc also buy

3. With the increased margins, and the recent washout positioning should be a lot cleaner. Also the weekend revelations about Epstein / DoJ messy redactions / NIA whistle blowing mess up / ICE indignance are causing investors some concern over the ‘USD’.

4. Slow stochastics & Trading envelope supportive. > 4893, uptrend can resume.

5. There has been some supply of Volatility. 1. Private banks selling XAU puts for clients - optically, look attractive ways to accumulate Gold. 2. Volatility knock outs - Hedge funds buy options with Vol knock outs to make the Options cheaper - but realised volatility is still very high.