According to @KobeissiLetter, there is a significant increase in physical gold buying in the US, resembling depression-era levels. Physical gold inventories have increased by over 100% year-to-date, with gold prices reaching $3,100/oz. This trend is occurring amid tariff uncertainties surpassing those experienced during the Trump Trade War 1.0.

According to The Kobeissi Letter, natural gas prices have decreased by over $1.00 from their previous high, with prices recently touching $3.00. The market is reacting to expectations of another supply glut, as inventories remain above historical averages and the recent cold front did not significantly impact demand.

According to The Kobeissi Letter, natural gas prices have decreased by over $1.00 from their recent highs, with current prices around $3.00. This decline is attributed to market concerns about another supply glut, as inventories remain above historical averages and recent cold weather was insufficient to drive demand. Traders should consider these factors when analyzing market positions.