Core Insights - The article discusses the increasing demand for precious metals, particularly gold and silver, driven by changes in investment regulations in countries like India and Saudi Arabia, as well as the ongoing economic conditions in the U.S. [2][30] - It highlights the potential for stagflation in the U.S. economy, suggesting that commodities and defensive stocks may be favorable investments, while bonds and growth stocks could face pressure [2][30]. CFTC Data Analysis - As of August 26, 2023, the net long positions for COMEX gold increased by 4.5% to 461 tons, while silver saw a significant rise of 18.8% to 5,319 tons [3][6]. - The total long positions for COMEX gold rose by 2.2%, and for silver, it increased by 10.3%, indicating a bullish sentiment in the market [3][6]. - The article notes that the net long positions for platinum and palladium have shown mixed results, with palladium remaining in a net short position for 137 weeks [7][18]. Global Investment Trends - Indian pension fund managers are advocating for increased investment limits in gold, real estate trusts, and infrastructure trusts, which could lead to a significant increase in gold demand [2][27]. - The Saudi Arabian central bank's recent purchases of silver ETFs signal a growing interest from sovereign wealth funds in precious metals [2][29]. Economic Indicators - The article suggests that the U.S. economy may be entering a stagflation phase, which historically leads to increased investment in commodities and physical assets [2][30]. - The correlation between gold prices and North American gold mining stocks has weakened, with the gold price to mining stock ratio dropping to its lowest in three years [19][21]. Market Sentiment - The gold-silver ratio, an indicator of market sentiment, was reported at 86.885, reflecting a slight increase but a cumulative decline of 4.4% for the year [23][24]. - The market anticipates potential interest rate cuts by the Federal Reserve, with expectations of two rate cuts by the end of the year [26][30].

“We don’t have a gold ETF. We don’t have a silver ETF. And so it’s a logical extension then as to why we don’t have ETFs in other things that don’t either deliver cash flow or have the prospect of delivering cash flow.” https://t.co/KhO0oGdSg8 ...