When I learned that a new weapons company had called itself Covenant, I found I could not put the name aside. The company makes cruise missiles. Its stated purpose is deterrence: to manufacture enough weapons to persuade an adversary that war would be a mistake. I do not know its founders, and...
Read MoreUsually, credit crises are in the private sector. Today, it’s a global government funding crisis from which there’s no rescue. Gold and silver are the escape route. This week brought the beginning of a government financing train-wreck to public attention, affecting all G7 nations. That it is...
Read MoreThe yen carry trade is blowing up, driving up global bond yields. Investors are slowly learning that the only safe havens are to be found in gold, silver, and storable commodities. It started with Scott Bessent at the US Treasury intervening in the JPY rate doing a favour for Japan’s...
Read MoreA week of consolidation for gold and silver ends with a strong performance for silver. Driving silver’s price are factors common to gold, plus the gradual reopening of Indian demand. Silver volumes on Comex have been high for the last seven trading sessions, while open interest has climbed...
Read More$40 trillion and counting. Bessent forced to buy USTs to keep yields down. These headlines are undermining the dollar’s credibility which is why gold is now rising strongly. There can be little doubt that gold has turned a corner. Markets now see risk in the dollar, whereas as recently as...
Read MoreThere’s a sea-change underway in investor attitudes towards gold and silver. Markets now see growing risk to the dollar as a consequence of oil supply disruption. When America first attacked Iran on 28 February, gold and silver prices declined: gold from $5320 and silver from $93. Admittedly,...
Read MoreInvestors increasingly suspect that financial markets might be radically mispriced and nowhere is this truer than for precious metals. In terms of the evolution of gold and silver prices, markets appear to be in a similar position to where they were in December 1973, after OPEC first hiked...
Read MoreFew investors are interested in major upheavals facing global finances. Disinterest in summer is normal, but this is a time of maximum danger to personal wealth. It is a fact that after 55 years of this fiat currency regime, the top 500 investment managers with an estimated $140—$150 trillion...
Read MoreSome analysts tell us that gold goes down in war. This is rubbish. Otherwise, why would countries in the past have suspended their gold standards at wartime? There are some specious arguments being advanced for the lacklustre performance of gold and silver in recent weeks, and the argument above...
Read MoreIn the fog of war, truth is the casualty. Gold and silver prices will reflect uncertainty over outcomes. All that traders know for now is that bond yields might rise further. Well-informed analysts who follow geopolitical developments have concluded that America and Israel have lost the war...
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