Gnosly

ALERT: 🚨 Iran backed Houthis now reportedly in control of Hisn Murad, a strategically important position overlooking Yemen’s Red Sea coast near the Bab el-Mandeb. Its location matters because the strait is only about 25 km wide at its narrowest point. A sustained Houthi presence there could give the group significant leverage over maritime traffic passing between the Red Sea and Gulf of Aden. If restrictions on Saudi-linked shipping were broadened to include vessels from other nations, the disruption could extend far beyond the region—potentially forcing more commercial ships to bypass the Suez Canal and take the much longer route around Africa.

BREAKING: Global physical gold-backed ETFs attracted +$17.9 billion in inflows in August, the 2nd-largest monthly intake on record.This pushed global gold ETF holdings up +121 tonnes, to a record 4,189 tonnes.At the same time, total assets under management rose +16% MoM, to $615 billion, their highest level since February.Europe led last month’s purchases at +$7.9 billion, its biggest monthly inflow on record, followed by North America at +$7.7 billion, and Asia at +$2 billion.Within Europe, the UK posted +$4.4 billion in inflows, its 2nd-largest monthly inflow on record, followed by France at +$1.5 billion, its biggest monthly intake on record.Year-to-date, global gold ETFs have attracted +$29 billion in inflows, equivalent to a +160 tonne increase in gold holdings.Gold demand is remarkably strong.

Be careful what you wish for Mr Bessent... The Yen (in green) is indeed strengthening but in the meantime, the US 30-year yield (in red) keeps rising...Source: zerohedge