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@KobeissiLetter The progressive degradation of Fibonacci proportional consistency once pre-market liquidity depth steadily declines toward overseas market closes

@KobeissiLetter $16.4B into physical gold ETFs in 7 weeks shows institutional capital is front-running central bank easing cycles. Western funds are driving this leg because real yields are compressing and sovereign debt rolls are becoming impossible to ignore without debasement.

$6.4B into physical-backed ETFs is not just a sentiment headline; when new ETF shares are created, the fund has to source gold. Gold is still 12% below its January all-time high despite being up 8.4% year to date, so sustained North American buying would matter. One week is a headline; follow-through is the bid.

@KobeissiLetter The real signal isn’t just the $6.4B weekly inflow — it’s the persistence. 7 straight weeks, $16.4B accumulated, and AUM back to $615B. That looks less like a short-term trade and more like a sustained rotation into gold. 🥇📈

@KobeissiLetter Gold demand stays resilient despite macro noise.

@KobeissiLetter Gold ETF inflows this size mean dealers are structurally long and need to keep hedging the upside. If $GLD keeps absorbing this bid, pullbacks stay shallow until the flow stalls.

Seven straight weeks of inflows isn't a headline event, it's institutions quietly agreeing on the same thing at the same time. When that much capital moves in the same direction without a catalyst everyone can point to, that's usually the tell that the catalyst hasn't been priced in yet

@KobeissiLetter 🚨 THE GOLD RUSH IS ACCELERATING. 🥇 Global physical gold ETFs pulled in $6.4B in a single week—their biggest inflow in 10 months. (reuters.com) Investors are piling into gold as a hedge against inflation, geopolitical risk, and uncertainty.

@KobeissiLetter 👆 Most won’t act.

@KobeissiLetter The flow series is the cleaner demand signal here because ETF AUM also rises mechanically when bullion appreciates.

@KobeissiLetter Looks like gold is back in vogue, just give it a few more weeks and we might see a gold rush, minus the pickaxes. Markets do love a shiny safe haven.

@KobeissiLetter As a liberal, I refuse to panic until MSNBC tells me exactly how much panic is appropriate.

@KobeissiLetter Great points. I like how you avoid emotional market reactions. You and @RexWiggins12 bring a disciplined mindset.

@KobeissiLetter It's pretty clear what's happening as the debt narrative moves into the mainstream.

@KobeissiLetter Looks like investors are polishing their gold investments, shiny choices for a brighter future. Good to see the market glinting!

@KobeissiLetter Institutional panic buying disguised as a rush. Central banks and mega funds are quietly front running retail investors because they know fiat stability is fractured

@KobeissiLetter Don’t chase gold because it’s going up. Ask why the money is moving there.

@KobeissiLetter Don’t tell Bessent

@KobeissiLetter Time to buy some gold miners stocks!

@KobeissiLetter 🫡🇺🇸🇵🇷 The pursuit of happiness is freedom 250

@KobeissiLetter The gold miners had run out of steam, so naturally they were afraid. It was time, time to knock off for the day😝

@KobeissiLetter Thanks for sharing. Your reasoning feels solid and grounded. Along with @meghaan_s you stand out.

@KobeissiLetter The $33 billion AUM rise on only $6.4 billion inflows shows price appreciation, not new allocations, drove most of last week's valuation increase.

@KobeissiLetter Gold ETFs took $6.4B last week. Could be a hedge into $NVDA tomorrow, not a new bull market.

@KobeissiLetter Seven straight weeks of inflows while yields remain elevated is a stronger signal than price alone. Investors are hedging fiscal credibility, not just chasing momentum.

@KobeissiLetter Do you think perhaps people are hedging from fear of the current economy/markets?

@KobeissiLetter North America? Interesting

While the timeline loses its mind over $6.4B in gold ETF inflows... ETFs represent just 0.7% of total global gold demand across the last 41+ years. The other 99.3% went to: • bars • coins • jewellery • private vaults • electronics • chips • central banks This chart is the actual story: 163,339 tonnes demanded 112,503 tonnes mined A 50,836-tonne structural gap that has existed every single year since 1985 (filled almost entirely by ordinary people melting down old jewelry). Paper flows make headlines. Physical scarcity runs the market.

Their own two numbers tell a quieter story: only about a fifth of that $33B was new money. New cash into the funds last week, $6.4B - 46.7 tonnes of metal on the World Gold Council's weekly count. Total assets added, $33B. The other roughly $27B is not anyone buying anything. It is the gold already sitting in those funds being worth more per ounce than it was a week earlier. Assets under management tracks the gold price far more than it tracks demand, which is why it can leap in a week when almost no one new shows up. What the money that did show up bought is metal that earns nothing. SPDR Gold Shares $GLD at $428.51 (after hours), +$1.82 / +0.43% today, holds bars in a London vault, charges a fee, and pays nothing out - the holder owns the price move and that is the whole return. A mining company owns the gap between that price and what it costs to dig. Newmont $NEM at $135.99 (after hours), +$4.15 / +3.15% today and its highest price in a year, is the Denver gold miner that got $4,414 an ounce in the June quarter against an all-in cost of $1,621 - what mining an ounce costs once the upkeep needed to keep the mines running is counted. That gap produced $2.2B of free cash flow - the cash left after running and funding the mines - on $6.1B of revenue, and $1.9B went back to shareholders, $1.7B of it buying back stock, with the share count down about 9% since February 2024. The other side of it: that same free cash flow fell 30% from the March quarter, when Newmont got $4,900 an ounce and its cost was $1,029. On the Len5es: Newmont is not on any of the six. Income comes closest - that style watches cash genuinely returned to owners, and $1.9B in a quarter against a shrinking share count is real cash - but the dividend is $0.26 a quarter, roughly 0.77% of the share price, and a buyback a board can stop tomorrow is a thinner promise than a check that arrives. A dividend that scales with the gold cycle is the specific thing that would change that read. A vault has no cost line. A mine does, and it moves both ways. Not investment advice.

@KobeissiLetter The trend looks favorable.

@KobeissiLetter Sharper read: that $6.4B is all WEST. Asia chipped in $300M and they're the ones hoarding physical. ETFs added 801 t in 2025 after bleeding out in 2024, yet the marginal buyer never changed. Same story, louder number.

@KobeissiLetter Asia only added $300m while North America and Europe took the headline. That split screams US/EU duration rotation, not a global panic bid. If risk-on returns next week, does the gold ETF bid hold?

@KobeissiLetter flows are chasing the anomaly, not making one. real 10y at 2.44%, highest since 2009, that setup usually kills gold. printed ATH anyway. bullish read is the tape ignoring the funding cost. x.com/The_DailyDigits/status/2…

@KobeissiLetter Investors are pricing in real macro risk. Big money quietly moving into safe havens to protect against market turbulence

A powerful signal, especially with seven consecutive weeks of inflows. The key distinction is that ETF flows measure investment demand, while rising gold prices also inflate total AUM mechanically. Together, however, they suggest that institutional interest is strengthening, not merely that prices are rising. The wider picture matters too: central bank purchases, bars, coins and jewellery remain far larger sources of demand. Gold is attracting both strategic allocation and safe haven buying as concerns over debt, currencies and policy uncertainty grow. The yellow metal is certainly having a very busy year 🟡📈 Please read my latest X: x.com/tekkaus/status/209223961…

We can't score gold - it files nothing with the SEC. We can score the miner: $NEM is 62nd of 466, quality 6.2/10 and growth 5.9, but value only 4.8. Money going into the metal doesn't reprice the company until it reaches an income statement. That lag is the whole gap between a flow and a factor.

@KobeissiLetter Everyone reads this as a gold story. It's a trust story. Three buyers, in this order: central banks, institutions, then ETF flows. Stage one started in 2022. That $6.4B is stage three arriving with a receipt. It's a clock, not a signal. What's stage one buying now?

@KobeissiLetter Where is the gold coming from?!

@KobeissiLetter $6.4B of flows against a $33B AUM jump means most of the move was price, not buying — the "rush" is mark-to-market with a marketing department. Also worth noting Asia at $300M: the region that actually hoards gold does it in bars, not tickers.

@KobeissiLetter That kind of sustained gold ETF inflow is a major signal. Investors clearly have strong demand for gold as a hedge, but the bigger question is what’s driving it: inflation fears, geopolitical risk, or expectations around rates.

Worth the precise framing, this is the strongest weekly gold ETF inflow in 10 months, not since January. That's a longer stretch than the post states, which actually understates how notable this week was. It's also landing alongside gold closing in on $4,700, its highest level in over three months. Price and ETF demand rising together tends to signal a broader based rally rather than one driven mostly by leveraged futures positioning.

@KobeissiLetter Large ETF inflows can reinforce momentum, but the regional mix matters. If demand broadens beyond one market while real yields stay supportive, the move is more durable than a hedge concentrated in one geography.

@KobeissiLetter Third largest weekly inflow on record sounds bullish, but the two larger ones both came near short term tops. ETF flows are the most sentiment driven part of the gold market because they are the easiest to reverse.

@KobeissiLetter @Amgad_Khafagy do you still see gold returning to $3000 and staying there for years?

@KobeissiLetter 🇸🇦🇵🇰💚

@KobeissiLetter Money is chasing gold again even though it is still about 16 percent below its January high. Chasing usually shows up late.

@KobeissiLetter Good point 👍 But market looks like it's trapping early buyers right now 😳

@KobeissiLetter next stop is a massive breakout for commodities ^^

@KobeissiLetter StcDaebak

@KobeissiLetter That’s a pretty big weekly move. Clearly plenty of investors still want something that feels like a hedge against all the uncertainty.