Latest Goldmoney Research

Jun 24, 2022·Alasdair Macleod

Market Report: Half-year doldrums

Gold and silver drifted lower this week as the whole commodity complex weakened. In European trade this morning, gold was at $1826, down $14, and silver at $20.88, down 78 cents. Comex volumes were moderate in gold, but higher in silver relatively.Our next chart is of the wider commodities...

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Jun 23, 2022·Alasdair Macleod

Russia is winning the financial war

Sanctions have backfired on those described by Vladimir Putin as the unfriendly nations. It is setting in train a series of events likely to undermine the whole Western financial system, as prices rise driving interest rates higher, and economic activity shrinks. These developments alone...

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Jun 17, 2022·Alasdair Macleod

Market Report: PMs rally while financial assets crash

While stocks and bonds crashed this week, gold and silver rallied, recovering most of the ground lost in a sell-off on Monday. In Europe this morning, gold traded at $1850, down a net $20 having traded as low as $1806 on Tuesday. At $21.92, silver was marginally higher on the week,...

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Jun 16, 2022·Alasdair Macleod

A perfect storm in banking is brewing

Now that interest rates are rising with much further to go, the global banking system faces a crisis on a scale like no other in history. Central banks loaded with financial securities acquired through QE face growing losses, and their balance sheet liabilities are now significantly greater...

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Jun 10, 2022·Alasdair Macleod

Market Report: Big gold deliveries on Comex

Gold and silver moved sideways this week in light to moderate trade. In European markets this morning, gold traded at $1847, down $3 from last Friday’s close, and silver at $21.70 was down 20 cents. Sentiment is increasingly negative, with a general feeling that gold and silver are failing...

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Jun 9, 2022·Alasdair Macleod

Protection from a currency collapse

While markets seem becalmed, financial conditions are rapidly deteriorating. Last week Jamie Dimon of JPMorgan Chase gave the clearest of signals that bank credit is beginning to contract. Russia has consolidated its rouble, which has now become the strongest currency by far. The Fed announced...

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Jun 3, 2022·Alasdair Macleod

Market Report: Last chance saloon for bullion banks

After a minor sell-off earlier in the week, gold and silver rallied on Wednesday and Thursday. Trading was moderate despite being interrupted by holidays — Memorial Day in the US on Monday and the Queen’s Jubilee closing London yesterday and today (Friday). On the week, gold rose $17 from...

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Jun 2, 2022·Alasdair Macleod

Recession, prices, and the crack-up boom

Initiated by monetarists, the debate between an outlook for inflation versus recession intensifies. We appear to be moving on from the stagflation story into outright fears of the consequences of monetary tightening and of interest rate overkill.In common with statisticians in other...

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May 19, 2022·Alasdair Macleod

Cycles are driven by credit

Central bankers’ narratives are falling apart. And faced with unpopularity over rising prices politicians are beginning to question central bank independence. Driven by the groupthink coordinated in the regular meetings at the Bank for International Settlements, they became collectively blind...

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May 13, 2022·Alasdair Macleod

Market Report: Hedge funds panicked

The sell-off in gold and silver accelerated this week. Gold traded at $1822 in Europe this morning, down $61 from last Friday’s close, and silver at $20.80 was down $1.50. Comex volumes in both contracts were high on the sell-off.High volumes and steeply falling prices tell us that this is...

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