News linked to both this project and an event.
According to TechFlow Research, a Deutsche Bank research report on August 13 pointed out that gold is currently in its fifth explosive price phase since 1979, which started in August 2024 and has lasted about 24 months so far, with a peak BSADF statistic of 3.29. The superposition of four factors—central bank gold purchases, de-dollarization, geopolitical risks, and interest rate cut expectations—is driving this round of market performance. Deutsche Bank pointed out that the core difference between this round and the four historical explosive phases (the 1980 Soviet invasion of Afghanistan, the 2008 subprime mortgage crisis, the 2011 European debt crisis, and the 2020 pandemic shock) lies in the fact that the driving force has shifted from inflation or crisis-driven to the structural behavior of central bank gold purchases. The research report predicts that the baseline scenario for gold's fair value points to USD 4,700 to 5,100 per ounce. The basic model shows the current fair price is about USD 4,700, representing about 20% upside potential compared to the current price. Central bank gold purchases since Q3 2022 have grown 6 times compared to the 2016 to 2021 levels; about half of official gold purchases are not reported in IMF data, and this portion of "unreported demand" remains at a high level. Global gold ETF 30-day rolling inflows are about 1.5 million ounces, and Asian buyers continue to increase holdings. The gold-silver ratio is at a high level, but the shortage of physical silver is easing, and correction signals are unclear.
Odaily News: Investor Mark Cuban and "The Big Short" investor Michael Burry have recently issued warnings about valuation risks in Nvidia (NVDA) and AI stocks. Cuban stated on X that the current AI capital cycle bears similarities to the dot-com bubble of the 1990s, arguing that Nvidia is playing the role the IPO market did back then, fueling continuous capital inflows by supporting customers' purchases of AI chips.Burry, meanwhile, has focused on the rising cost of Nvidia's credit default swaps (CDS), noting that the scale of the "circular financing" driven by Nvidia is expanding. He believes that some AI demand relies on financing support, and future revenue may be built on complex capital cycles.Earlier, Nvidia's stock price fell approximately 5% in a single day, erasing about $250 billion in market value. The IMF and the Bank for International Settlements have also previously flagged potential systemic risks from AI circular financing. However, Nvidia CEO Jensen Huang dismissed such criticism as "absurd." (TheStreet)
Odaily News: Nigerian President Bola Ahmed Tinubu has signed an executive order to coordinate virtual asset regulation, enhance cooperation between the country's financial, tax, and capital market institutions, and address the fragmentation of digital asset regulation. The executive order establishes a Virtual Assets Committee composed of heads from Nigeria's major financial regulatory agencies to guide relevant policies. Nigeria's tax authority will update digital asset policies and provide more details on the impact on taxpayers. Bayo Onanuga, Special Adviser to the President, stated that the executive order does not create new regulatory agencies nor transfer powers between agencies; each institution retains its statutory duties and independence, and registration requirements will be determined based on the nature of the activity and the assets involved. A June report from the International Monetary Fund (IMF) shows that since 2019, Nigeria has accounted for approximately 60% of stablecoin inflows in Sub-Saharan Africa; between July 2023 and June 2024, the country's cryptocurrency inflows reached approximately $59 billion.
The International Monetary Fund (IMF) stated in its latest annual assessment of Nepal that, despite Nepal’s comprehensive ban on cryptocurrency transactions and mining since 2021, inflows of cryptocurrencies and stablecoins grew rapidly between 2019 and 2024—peaking at over 13% of GDP in 2021 and rebounding to approximately 8% in 2024, with cross-border flows amounting to roughly 5% of GDP. The IMF recommends that Nepal establish a cryptocurrency regulatory framework aligned with international standards, strengthen monitoring of stablecoins and unbacked crypto assets to prevent circumvention of capital controls and large-scale deposit outflows, and urges Nepal to complete the FATF action plan and exit the “gray list.”