Highlights from our latest issue:
The rally in gold appears technically over-bought, with gold around 25% above its long-term real log-level trend.
In the year up to the 19th of September, gold-backed ETF holdings have risen 560.6t, absorbing 20.8% of mine supply.
Indicators show significant, but not extreme, speculative interest.
Easing US monetary conditions, risks surrounding the US dollar, and elevated policy uncertainty, remain supportive of gold.
Industrial and commercial users of platinum and jewellers are competing with investors to secure limited stocks, driving the price of platinum up 18.8%MoM, sending leasing rates soaring.