Earnings360 Newsletter for 12/10/2024

Saudi Arabia quietly terminated its 1974 petrodollar agreement with the U.S. - the deal that forced every country to hold U.S. Treasuries for 50 years. Since then, Saudi Arabia has signed a $7 billion currency swap with China, begun settling oil in digital yuan, and joined China's mBridge cross-border payment system.

With dollar demand falling and 10-year Treasury yields pushing toward the 4.4% threshold, gold analyst Garrett Goggin, CFA, CMT sees a major repricing ahead - and says the best opportunity isn't physical gold, but an asset still trading at a steep discount relative to current gold prices.

Saudi Arabia has quietly exited its 1974 petrodollar agreement with the U.S. - the pact that forced every nation to stockpile dollars just to buy oil. Now the Saudis have inked a $7 billion currency swap with Beijing, started settling oil in digital yuan, and joined China's mBridge cross-border payment network.

With dollar demand softening and 10-year yields already creeping toward 4.4%, gold analyst Garrett Goggin sees a rare setup forming. He's identified a gold-linked asset still priced at a significant discount to bullion itself.