Latest Goldmoney Research

Nov 18, 2022·Alasdair Macleod

It’s all about the pivot

Over the last two weeks gold and silver have continued to enjoy a significant rally, but this week has been one of consolidation. In European trade this morning, gold was at $1765, down $14 from last Friday’s close. The correction has been more marked in silver, which this morning was at...

Read More
Nov 17, 2022·Alasdair Macleod

The upside-down world of currency

The gap between fiat currency values and that of legal money, which is gold, has widened so that dollars retain only 2% of their pre-1970s value, and for sterling it is as little as 1%. Yet it is commonly averred that currency is money, and gold is irrelevant.As the product of statist...

Read More
Nov 10, 2022·Alasdair Macleod

Legal definitions of money and credit

At these times of growing confusion over the future of currencies’ purchasing power, it is time to remove all doubt in the definitions of the differences between money, currency, and credit. This article traces the history and legal background to these relationships.Despite the failure of...

Read More
Nov 4, 2022·Alasdair Macleod

Oversold extremes

On the back of a further rise in the Fed Funds rate, the gold price made little progress this week. Silver outperformed. In European morning trade today, gold was at $1652, up $48from last Friday’s close. Silver was at $19.90, up 68 cents over the same timescale. Our headline chart shows...

Read More
Nov 3, 2022·Alasdair Macleod

The Great Unwind II

With price inflation rising out of control and interest rates rising strongly, the trading environment for commercial banks has fundamentally changed. With bad debts looming and bond prices in entrenched downtrends, procrastination is now the enemy of bankers.We are at the beginning of The...

Read More
Oct 28, 2022·Alasdair Macleod

Watching the paint dry

Gold and silver consolidated the small gains of the previous week in subdued paper trading. In European this morning, gold was at $1649, down $9 from last Friday’s close, and silver at $19.22 off 16 cents. Broader financial markets also reflected consolidation.The dollar’s TWI weakened, at...

Read More
Oct 27, 2022·Alasdair Macleod

Malthusian dogma and circumlocution

The Cato Institute recently published a new book, Superabundance, which tries to prove that Malthus, the nineteenth century clergyman and economist, was wrong with respect to his theory of population. Malthus believed that population growth was exponential, while the growth of food supplies...

Read More
Oct 21, 2022·Alasdair Macleod

Comments on LBMA meeting in Lisbon

Gold eased further this week and silver marked time, as US Treasury yields moved higher. In European trade this morning, gold was $1625, down $19 from last Friday’s close, and silver was $18.34, up 11 cents. Comex volumes in gold were on the low side, while in silver they were moderate.In...

Read More
Oct 20, 2022·Alasdair Macleod

Free markets' last stand

The British government’s desperate dash towards free markets has failed, badly bungled. The establishment in Whitehall and Westminster is back and realigned with the international government consensus. The socialist wealth redistributors, the interventionists, and the anti-Brexit Remainers...

Read More
Oct 14, 2022·Alasdair Macleod

Negative sentiment in paper markets

Negative sentiment in paper markets for precious metals prevails while the macro investing world tries to come to terms with higher interest rates. In early morning trade in Europe this morning, gold was at $1659, down $34 from last Friday’s close. Over the same time scale, silver was down $1.25...

Read More