Jan 2, 2026·Alasdair Macleod2025 - Silver sparkled and gold shined
Precious metal bulls will feel vindicated, but the rise in prices indicates something darker: the dollar’s decline is accelerating, barrelling towards the end of the fiat currency era.In this our final market report for 2025, we look back on what has been driving gold and silver price in 2025,...
Read MoreDec 26, 2025·Alasdair MacleodPrecious metals squeeze intensifies
The squeeze in silver is now creating headlines in the media. If this leads to a wider recognition of why silver continues to rise, it could spark additional ETF demand.Christmas week has been particularly dramatic for silver and platinum, marginally less so for palladium while gold quietly...
Read MoreDec 19, 2025·Alasdair MacleodGold and silver march higher
Soaring silver’s upwards march is set to continue, given the ongoing systemic squeeze. Furthermore, gold threatens to make new highs, exacerbating a silver pricing crisis.The background to a developing market liquidity crisis in derivatives is signalled by higher precious metal prices. It is...
Read MoreDec 12, 2025·Alasdair MacleodNow it’s gold’s turn
Wednesday’s FOMC statement confirmed that money-printing resumes, set to undermine the dollar in 2026. Estimates of future inflation will increase and gold and silver rise further. The star of the show this week was silver, as the chart below illustrates. The message being sent to...
Read MoreDec 8, 2025·Roy Sebag The Deer, The Horse, and The Element: On The Denial of Material Reality
In the waning days of the Qin Dynasty, the eunuch Zhao Gao devised a test to distinguish those who followed reality from those who followed his power. He brought a deer into the imperial court but presented it to the Emperor with a straight face, declaring, “This is a grand horse.”The...
Read MoreDec 5, 2025·Alasdair MacleodSilver tests new highs
While silver bullion stocks are improving in SGE/SHFE vaults, shortages persist in London and Comex deliveries are soaring. Meanwhile a global bond market crisis will drive gold higher.With China protecting her own silver supplies, the silver squeeze is set to continue, particularly as...
Read MoreNov 28, 2025·Alasdair MacleodSilver, gold becoming Giffen goods
New York futures out of action probably doesn’t help. But silver hits new highs in volatile conditions. In this report, we look at the factors driving gold and silver higher still.During Thanksgiving week (US markets closed on Thursday) the bullish running has been made in Asia. In European...
Read MoreNov 20, 2025·Alasdair MacleodGold and reflation
Stalling inflation, Trump’s $2k stimmies, Japan and China stimulating, and the tech bubble bursting. It’s short-term uncertainty for gold, but it’s all part of fiat’s road to ruin.Gold and silver marked time this week, coming up to the end of month push for lower prices on Comex. In London...
Read MoreNov 14, 2025·Alasdair MacleodSupply squeeze continues
It’s now China’s vaults running short on gold and silver. But European ETF profit-taking is providing some minor supply, giving the London market temporary relief.The resilience of precious metal prices was demonstrated this week as both gold and silver rose towards new high ground. In...
Read MoreNov 7, 2025·Alasdair MacleodRiding the gold and silver rockets
Most goldbugs believe that they face months of price consolidation. Evidence is mounting that the correction is over and that profit-takers are wrong to be on the sidelines.This market report looks at the evidence behind a continuing silver squeeze, which theoretically can only be alleviated...
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