problems for gold are opportunities for Bitcoin. That now that gold is topped out that the trade is going to rotate into Bitcoin. That ain't going to happen, right? The most of the people who have been buying gold couldn't care less about Bitcoin. That's why they're buying golds. But again, they're focusing on the negatives. And this has been the case the entire rally. If you look at all these gold stocks that have gone up double or triple over the past couple years, it's been the same story


the whole way up. Every time a gold company or silver company has reported earnings over the last couple years, and almost all of those earnings beat estimates, the stocks went down every time. right now. Of course, they recovered a couple of days later and made new highs, but the re initial reaction to better thanex expected earnings has always been to sell the news. In today's news recap, the London Bullion Market Association, LBMA, has announced a major new transparency initiative that could reshape the global


gold trade. Starting in 2027, all LBMA accredited gold refineries will be required to submit data to a new digital gold bar database, making it mandatory for those listed on the association's good delivery list. The LBMA, which oversees London's over-the-counter gold hub, the largest in the world, says the move is designed to increase traceability and build investor confidence, especially at a time when gold prices have surged 55% this year, reaching a record $4,381 per ounce on October 20th. Speaking at


the LBMA precious metals conference in Kyoto, Japan, LBMA CEO Ruth Craell said, "We will begin with voluntary periodic reporting from January next year, transitioning to mandatory reporting by 2027. This marks a significant milestone for the bullion market. A centralized database will make it easier to track the origin and movement of gold bars, helping to verify ethical sourcing, combat illegal mining, and enhance the integrity of the gold supply chain. The LBMA first launched the gold bar


integrity database earlier this year to improve data collection and processing from refineries. Refineries on the good delivery list must already report the country of origin of their sourced material annually. But under the new rules, real-time digital reporting will replace much of that manual process. In simple terms, the LBMA is taking gold tracking into the digital age. With US tariffs, market turbulence, and record high gold prices reshaping global trade, this push for transparency and traceability comes at a crucial time for


the industry. Now, let's take a look at the best clips from the LBMA's latest announcement and expert interviews. Now to me that is more indicative of a bull market climbing a wall of worry than it is any kind of mania which is the way the media has been portraying it. Just a speculative frenzy. Gold's like the new meme stock. Everybody was chasing it. Everybody is not chasing it. Hardly anybody is is in this race. Yes, a few more people got attracted to the market in the last week or two and some of them


many of them may have been flushed out. Who knows? Uh but this is just a bump in a in a long long road and we got a long way to go before the sentiment gets anywhere near uh bubbleicious or something like that. In fact, I think the segment that is most excited to proclaim the death of the gold bull market is crypto because the Bitcoin guys are hoping that problems for gold are opportunities for Bitcoin. That now that gold is topped out that the trade is going to rotate into Bitcoin. That ain't going to happen, right? The most


of the people who have been buying gold couldn't care less about Bitcoin. That's why they're buying gold. And they're not going to rotate into fool's gold because real gold took a pause. So that's just a bunch of wishful thinking. They're trying to hype people into Bitcoin. They're not trying to get the gold buyers. They're just trying to get people that aren't doing anything to buy Bitcoin because they want them to think that now Bitcoin's about to moon. Uh


because gold is coming back to Earth. Even though it's not really coming back to Earth, it's still north of $4,000. And you know, they they point to prior periods where gold moved first and then Bitcoin moved, but I don't think those two events are in any way correlated. I mean, Bitcoin has just been moving up with with risk assets. It's got nothing to do with gold, but sure, you can always point to periods where gold stops going up. Gold is risk, right? So, gold safe haven. So the reason that uh


Bitcoin tends to move up when gold is going sideways or moving down, it's not because people are rotating out of gold into Bitcoin. It's because people are buying risk assets rather than a safe haven and Bitcoin falls into that camp. >> Gold prices dropped as optimism grows over US-China trade talks. Gold fell to around $4,70 per ounce on Monday, extending Friday's decline as progress in negotiations reduced demand for safe haven assets. Top negotiators from Washington and Beijing reached a


preliminary consensus after 2 days of discussions in Malaysia addressing key issues such as export controls, fentinel trafficking, agricultural trade, and shipping levies. This progress sets the stage for a potential final agreement between President Donald Trump and President Xihinping expected to be signed later this week in South Korea. Meanwhile, investors are now turning their attention to a busy central bank week with policy decisions due from the Federal Reserve, European Central Bank, Bank of England, and Bank of Japan


Central Bank. The Federal Reserve is widely expected to cut interest rates by 25 basis points following softer thanex expected CPI data last week. In contrast, both the ECB and BOJ are likely to hold rates steady, maintaining their current monetary stance. As trade optimism rises and central banks prepare to act, markets are seeing a shift away from safe havens, putting downward pressure on gold in the short term. The NASDAQ is at a new record high today. Bitcoin is well off its high. Bitcoin closed around 110 11,000. Bitcoin's high


was 126,000. So, Bitcoin isn't getting a bid as a risk asset and it's not getting a bid as a safe haven. It's kind of stalled out. And rather than uh a a rotation into Bitcoin, I think we're more likely to see the rotation out of Bitcoin. Um you know, the the Bitcoin community is trying their best, you know, to to to hype this up and and get the the the you know, their congressional uh allies and Trump. You know, I noticed they came out today with the the list of the big donors to the


ballroom that Trump is building at the White House. You know, the price tag now is $300 million for a ballroom, right? Not as much as it's costing to to redo the Fed building, but still $300 million. It's one room, right? $300 million. Uh but some of the biggest donors are the crypto industry. Why are they doing that? They are cozying up to Trump because they need Trump. They need the support of the government because crypto industry fails without the government propping it up because it


can't survive in the free market. It needs government intervention. It needs the government to misdirect resources into crypto. Make sure to hit that subscribe button and turn on notifications so you don't miss our daily global market recaps.