Gold's ETF Cherry on Top

This is a free preview of a paid episode. To hear more, visit vblgoldfix.substack.comHousekeeping: Good Morning. Gold Revaluation is happening (quite literally) before our eyesToday:* Commentary: Western ETF Purchases* Premium: WGC ETF AnalysisEquity Recap: US equities advanced on Friday ahead of the July consumer/producer price index and retail sales data out this week.Premium Markets: WGC Sees Western activity UptickGlobal gold ETFs experienced their strongest month since April 2022, attracting US$3.7bn in July, the third consecutive monthly inflow; all regions saw inflows with Western funds leading the way Recent inflows and the rising gold price pushed global gold ETFs’ total AUM to US$246bn, a month end peak. * Asia extended its inflow streak to 17 months, attracting US$438mn in July* Despite July’s slowdown, Asia has registered inflows of US$3.6bn y-t-d, significantly outpacing all other markets, driven mainly by China and Japan* COMEX total net longs saw a notable rise, ending July at 783t, 2% higher m/m…Full analysis at bottom including Video commentary…Tomorrow: Special BOA Silver AnalysisOn Supply Shortages: Those stocks have declined in recent years and now stand well below recent highs. This increasingly helps make the deficits count, especially as industrial demand is bouncing back tooMarket News: New Tech, Old Business* "Elon Musk has big plans for his startup xAI. A key part: using his other companies. Source: WSJ* "Stars from Hollywood’s golden age are being reborn through celebrity estate AI voice cloning deals, a sign of how some of the “Wild West” concerns about unauthorized AI impersonation are being addressed by new business models. CNBC* "Wall Street’s summer to forget is approaching its climax, with all eyes on this week’s consumer prices report Bloomberg* "Multinational groups from Volkswagen to AB InBev and L'Oréal have sounded the alarm about demand in China- FT* "New energy vehicles have outsold traditional fuel-powered passenger cars on a monthly basis, topping 50% for the first time- CNBCPolitics/Geopolitics: IDF Radio: The final decision on the direct attack has not yet been made and is in the hands of the Iranian leader... The Iranian attack, if carried out, will be limited and will not lead to a wide regional war", Via Ashaq News. "Israeli Army Radio: Iran is close to deciding to launch a direct attack from its territory towards Israel"IAEA said its experts witnessed a strong dark smoke coming from the northern area of the Zaporizhzhia nuclear plant following multiple explosions but added that there was no safety impact reported.Ukrainian President Zelensky said Russia started a fire on the premises of the Zaporizhzhia nuclear plant in southern Ukraine but added that radiation indicators are normal. It was also reported that the Russian management of the Zaporizhzhia nuclear plant accused Ukraine of causing a fire near the cooling towers of the Zaporizhzhia nuclear plant by shelling the nearby city of Enerhodar although it noted that the fire had no impact on its plant and its safe use.Main fire at the Russian-controlled Zaporizhzhia power plant in Ukraine had been extinguished, while Russian and Ukrainian authorities said in separate statements that one of the cooling towers at the power plant was damaged, according to Reuters. Furthermore, Russian President Putin ordered tighter security at strategic facilities in Zaporizhzhia including the nuclear plant.Some headlines via NewSquawk or DataTrekData on Deck: CPI, PPI, Housing Starts* MONDAY, AUG. 12 2:00 pm Monthly U.S. federal budget* TUESDAY, AUG. 13 Producer price index July* WEDNESDAY, AUG. 14 CPI year over year 3.0% 3.0% 8:30 am* THURSDAY, AUG. 15 8:30 am Empire State manufacturing survey Aug* FRIDAY, AUG. 16 Housing starts July 1.35 million 1.35 million Final Market CheckPremium: More on Western Gold DemandBRICS demand is what drives this market. And as long as it remains present (we think it will until BRICS summit at least) then US buying is just a Golden cherry on top of an already delicious looking sundae.***DO NOT SHARE THIS***