Founder & Chief Market Strategist - SAV Markets, SAV Markets

Shyam Devani

Shyam Devani provides key market commentary encompassing analysis of Foreign Exchange, Fixed Income, Commodities, and Equities globally – both in G10 and Local Markets. He takes a multi asset class approach incorporating fundamental, behavioural, and historical trends as well as technical signals.

Shyam has delivered strategic market insights to a number of trading desks and institutional clients internationally (funds/corporates/banks) through written publications, presentations, face to face meetings and conferences. He has had numerous appearances on CNBC, Bloomberg, and Singapore Radio providing his short and medium term views on markets while being the front office media commentator during his time at Citi.

He has been commentating on financial markets since 2004. Since 2006, he was running one of Citi’s top market products, CitiFXTechnicals, initially in London followed by Singapore where he took a lead role in enhancing the coverage of markets in Asia.

Founder & Chief Market Strategist - SAV Markets

Stablecoins - Tether and Coinbase Highlight Liquidity Risks

Crypto

Undoubtedly the better-than-expected data in the US has had its role to play in knocking precious metals. However, beyond the price action of last week, the way Gold and Silver fell out of bed at the start of this week with no other markets on the move does point to something else. Perhaps it was just a stop loss run? However as they fall, Bitcoin is trading at a 3-month high – that is not a coincidence. A rotation from precious to crypto looks like it is taking place again. While the move in Gold and Silver might look like capitulations, the charts suggest there might be a little more pain for bulls before things stabilise. The key levels are highlighted below on the Silver chart ($21 handle) and the ‘Equally Weighted Gold-G4 Index’ (Gold versus USD/EUR/JPY/CNY).

Undoubtedly the better-than-expected data in the US has had its role to play in knocking precious metals. However, beyond the price action of last week, the way Gold and Silver fell out of bed at the start of this week with no other markets on the move does point to something else. Perhaps it was just a stop loss run? However as they fall, Bitcoin is trading at a 3-month high – that is not a coincidence. A rotation from precious to crypto looks like it is taking place again. While the move in Gold and Silver might look like capitulations, the charts suggest there might be a little more pain for bulls before things stabilise. The key levels are highlighted below on the Silver chart ($21 handle) and the ‘Equally Weighted Gold-G4 Index’ (Gold versus USD/EUR/JPY/CNY).

Precious Metals and Crypto - Another Rotation?