A debate over gold took place at a roundtable hosted by a major New York investment bank, where ETF buying and futures selling were discussed as factors driving the market. The author reported sensing growing interest among affluent clients, particularly those in the upper-middle class and above.
Over the weekend, the author was invited to a roundtable for premium clients hosted by a major New York investment bank, where heated debates were held on equities, bonds, foreign exchange and gold. The author, serving as the commentator on gold, presented personal views in English, and the episode included a renewed request from participants for the author's views.
The current market was described as a tug-of-war between the buying factor originating with CoreWeave and the selling factor of the Fed entering a rate-hike cycle. Even when it was explained that ETFs were being bought and futures sold, participants were said to have shown little reaction. At the same time, the author recorded a strong impression that wealthy people around the world were showing keen interest in the gold market, along with requests for further views.
At the close of the debate, the author was invited to use an empty room at headquarters, but declined because of the cold, and joked about the high fee that had been quoted. The author expressed an intention to continue seeking opportunities to share information from New York.