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Housekeeping: This will be shared with Premium in 2 days under the same name.

Also find: CPI preview reports from GS, BOA, and CITI at bottom.

Comment: Tomorrow is also Fed Day at 2pm. Be ready for amateur hour at 8:30 on CPI. We will cover Fed Day tomorrow morning. CPI that comes in hot will hit Gold. The question is, does CPI matter….. unless it is astronomically high.

BTW.. I did not forget about the books.. Am just underwater trying to source them. Founders are guinea pigs sometimes!!!

Gold's Path Forward Notes

Podcast Purpose

* Primary Focus: Analyze the potential behavioral trends for gold over the next three months, not predicting price but predicting behavior, using historical data on price and open interest.

* Historical Context: Understand how the market digests different players (CTAs, macro discretionary, central banks, sovereign wealth funds, swap dealers).

Points of Interest

* Market Players: Hedge funds determine direction; bullion banks determine the magnitude of market moves.

* Behavioral Patterns: Identifying patterns in market behavior through open interest and price changes.

* Physical vs. Futures Market: Central banks and sovereign wealth funds' physical buying behavior impacting market stability.

* Potential Scenarios: Different scenarios for gold market movements based on open interest and market trends.

* Seasonality Considerations: Factoring in seasonal trends in gold market analysis.