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Macro Voices

MacroVoices #448 Luke Gromen: Why the Gold Recycling Trade is Accelerating

Macro Voices

Hedge Fund Manager Erik Townsend

Business, Investing, Business:investing

4.83.4K Ratings

🗓️ 3 October 2024

⏱️ 71 minutes

🧾️ Download transcript

Summary

MacroVoices Erik Townsend & Patrick Ceresna welcome back, Luke Gromen. They’ll discuss the dollar, inflation, monetary policy, China, energy, precious metals, and much more. https://bit.ly/3TW9f65 ⚫ Follow Luke Gromen on X: https://www.x.com/LukeGromen🔻Download Big Picture Trading Chartbook: 📈📉: https://bit.ly/4erbNRT   ✅Sign up for a FREE 14-day trial at Big Picture Trading: https://bit.ly/3WbYmgH   🔴 Subscribe to Patrick’s Youtube Channel: https://www.youtube.com/@Patrick_Ceresna   🔴 Subscribe to Erik's Substack: https://eriktownsend.substack.com/   🔴 Check out Energy Transition Crisis on YouTube: https://www.youtube.com/@EnergyTransitionCrisis1   Please visit our website https://www.macrovoices.com to register your free account to gain access to supporting materials

Transcript

Click on a timestamp to play from that location

0:00.0

This is macro voices, the free weekly financial podcast targeting professional finance, high net worth

0:14.2

individuals, family offices, and other sophisticated investors. Macro Voices is

0:19.8

all about the brightest minds in the world of finance and macroeconomics telling it like it is,

0:25.6

bullish or bearish, no holds barred.

0:28.3

Now here are your hosts, Eric Townsend and Patrick Sorezna.

0:40.0

Macro Voices episode 448 was produced on October 3rd, 2024. I'm Eric Townsend.

0:41.0

Forest for the Tree's founder Luke Gorman returns as this week's feature interview guest.

0:46.0

We'll talk about the dollar, inflation, monetary policy, China, energy, precious metals,

0:51.8

and much more.

0:52.8

And I'm Patrick Sorezna with the Macro Scoreboard Week Over Week

0:56.1

As of the Close of Wednesday, October 2, 2024,

1:00.0

the December S&P 500 futures down 33 basis points trading at 57. The December market rip is showing signs of exhaustion. We'll take a closer

1:10.1

look at that chart and the key technical levels to watch in the post game segment.

1:14.9

The US dollar index up 67 basis points trading at 10160, reversing strongly off the lows,

1:21.8

particularly driven by the reversal in the euro.

1:25.1

The November W.T.I. crude oil contract up 59 basis points to 70-10, back to the top end of its

1:32.2

one month range driven by increased geopolitical tensions.

1:35.6

We'll take a look at that chart in the post game and Eric will have the EIA inventory data.

1:41.0

The November Ar Bob Gasoline up 102 basis points, trading at 199, the December

1:47.6

gold contract, down 60 basis points, trading at 2669, fulfilled the 2,700 target and now consolidating off the short-term

1:56.9

high.

1:57.9

Copper up 356 basis points, training to 465, A dramatic bullish reversal continues. Uranium up 180

...

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