36:00 'I was in a country in the Middle East, and also in Europe, and someone said we took our gold out of the vault in NYC...I don't want to leave my gold in America'.
youtube.com/watch?v=UkvigLsQ…
If the global oil market is fragmenting, so is the global gold market.
COLUMN: With freight rates ballooning to prohibitively expensive levels, the global physical oil market is breaking apart.
Now, it’s all about location, location, location: depending of where, crude today costs $70 a barrel — or $150 a barrel.
@Opinion
bloomberg.com/opinion/articl…
In June 2025 SGE opened its HK gold delivery vault to foreigners for yuan denominated gold warrant settlement. In October Iran reported large increase in gold reserves.
In Feb 2026 US attacked Iran to stop it selling oil.
FOA: Gold is valued by the number of outstanding claims against it. Kind of like a house for sale with ten bidders. Each bidder thinks the house is in the bag because they have a valid bid ticket.
Replying to @DebraG_Robins
Think we r in last throes of credit gold price/ screen price discovery..
Some on X have written abt this a lot..as claims on limited physical ⬆️, paper price xau/usd⬇️..china has been draining physical Thru imports..55% world output this yr so far
H/t @mrwebber4
FOA A high physical "street price" will at least keep the dollar in play when price inflation begins. If the paper gold price rises from its present level, will gold stocks follow? Probably!...
mrwebber retweeted
U.S. TAPS EMERGENCY DIESEL RESERVE AS PRICES HIT $6.32
The Trump administration will release 315,000 barrels from the Northeast's 1 million-barrel heating oil reserve as diesel prices surge ahead of the midterm elections.
Diesel now averages $6.32 per gallon, according to AAA, amid disruptions linked to the Iran war.
Deliveries are expected by November 13.
The key takeaway: Washington is tapping emergency fuel supplies to ease pressure from soaring energy costs.






