Markets: Why 2024 is Year of The Gold

This is a free preview of a paid episode. To hear more, visit vblgoldfix.substack.comHousekeeping: Good Morning. Today:* Open Interest versus Price* What Happened in March of 2020* Why 2024 is the Year of the GoldContents* Current Prices * Yesterday’s Activity* Data Due* News* Markets/Metals Commentary: * Premium: Yesterday’s Activity:Comment: US equities retreated on Wednesday ahead of the Federal Reserve's favored inflation reading PCE* Precious Metals- * Oil/NG- * US equities-* Bonds- * DX-* BTC/ETH- Week’s Data:* MONDAY, FEB. 26 New home sales * TUESDAY, FEB. 27 Durable-goods orders * WEDNESDAY, FEB. 28 GDP (first revision)* THURSDAY, FEB. 29 PCE index consensus= 0.4%MoM * FRIDAY, MAR 1 S&P U.S. manufacturing PMI Full calendarNews: Top MSM News Links HereNOTABLE HEADLINES* Top congressional leaders unveiled a deal Wednesday to keep the federal government fully operating beyond Friday, when funding is scheduled to lapse for some agencies. Leaders said they will hold a vote on a stopgap bill this week to avoid any lapse in government funding, followed by votes next month on full-year spending bills." * “We are aware that some users may see a zero balance across their Coinbase accounts & may experience errors in buying or selling. Our team is investigating this & will provide an update shortly. Your assets are safe.”-Coinbase during the spike higher.* Revenge of the ICE- You can get $40,000 off a 2023 Toyota Mirai, a fuel-cell vehicle that retails for $52,000. When you factor in the $15,000 in free hydrogen over six years and the available 0% interest loan, Toyota is essentially paying people $3,000 to take the car off its hands. Toyota’s discount comes on the heels of Shell’s announcement three weeks ago that it’s closing its hydrogen filling stations in California."* MoreGEOPOLITICS* Italy's Finance Minister discussed with US Treasury Secretary Yellen a path to use frozen Russian assets to compensate Ukraine for war damage* Japan's top currency diplomat Kanda said using frozen Russian assets for Ukraine must be based on international law and he thinks EU's proposal is along those lines* Feet Held to the Fire: Eight EU countries called for new sanctions on Russia over Navalny's death.- signed by Czech Republic, Estonia, Finland, Lithuania Latvia, Poland, Sweden and Romania.* MoreSome headlines via NewSquawk or DataTrekMarkets/Metals Commentary (Charts):Comment: This is where the market changed* Gold- sideways is bullish for CTA flows* Silver- max shorts* Oil- sideways is bearish* Stocks- * BTC/ETH- no topside yet* Bonds- Zen Moment:*** Holding Place***Premium Attached: * ***Bank Trading Desk: Immigration & inflation are bigger electoral problems * MUFG Commodity weekly