Is the era of paper gold over?
The massive sell-off that shook the precious metals markets last week was not a standard correction, but a planned "liquidity event" and a "crash," according to mining magnate Frank Giustra, who warns that the 50-year dominance of "paper gold" prices is coming to a chaotic end. …
For the first time since March 2020, an unprecedented synchronized sell-off is affecting all asset classes (equities, energies, precious metals, currencies, cryptos), indicating systemic liquidity stress and an abnormal correlation of 1.0. Our system (Steelldy) has detected structural changes in correlations, notably the Gold/SPX correlation moving from -0.35 to +0.82 (panic signal) and the Oil/Tech…
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