BofA with the note. I agree. But the recent rise of BTC only reaffirms my view that this bear market rally is getting long in the tooth. I’m looking for a rebounding DXY for a better entry to the gold trade.
Reports of gold’s death are greatly exaggerated
Interest in gold has been muted in recent quarters compared to other asset classes,partly because rising real rates and a stronger USD have offered no incentive to increase exposure to the yellow metal. Markets are also increasingly focusing on the role metalswill play in the energy transition and gold is not one of the MIFTs (metals important for future technologies). These factors, among others, have prompted some soul-searching among market participants. However, we think calling the death of gold is premature.