Ideas and analysis on money, markets and the world around us.
Silver price framework: Both money and a commodity In this paper, we introduce a framework for understanding the formation of silver prices. Silver is both money (store of value) and an input commodity and thus the…
Read the articleCaesar: What sayest thou to me now? Speak once again. Soothsayer: Beware the ides of March. Caesar: He is a dreamer; let us leave him: pass. This famous advice, according to Shakespeare, was ignored with fatal…
Read the articleGoldmoney Wealth clients have been net selling all precious metals this week, with gold being sold to take profit. Clients have preferred vaults in London, Zurich, and Singapore, and have shown less preference for the…
Read the articleGold and silver declined over the week, though their paths differed. Gold peaked in the early hours of Monday, briefly spiking above $1260. Silver peaked at the same time, but maintained the higher levels until the…
Read the articleThe very near future is likely to see a sea-change in central bankers’ attitude to the gold allocation in their reserves. The failure of G20 monetary policy since the financial crisis is causing a general rethink, which…
Read the article“Better-than-expected U.S. economic data indicating a continued tightening of the U.S. labour market saw gold experience some intra-day volatility at the start of the week as it moved down to $1,228 before quickly…
Read the articleIn early European trade this morning, gold was trading at $1254, up $19 since last Friday’s close. Silver was at $18.26, up 27 cents on the same timescale. Gold and silver broke out on the upside from a two-week…
Read the articleIf the economy was on its uppers, Trumpenomics could be reasonably compared with Reaganomics. But that is not the case. The economy is operating close to capacity, ....any further fiscal and monetary expansion will…
Read the articleThe Trump administration is running into choppy waters, commodity prices are on the up, and inflation is around the corner. After a slow start, gold and silver resumed their uptrends this week, with both metals edging…
Read the articleIt was Karl Marx who was among the first believers that cyclical behaviour was endemic to free markets. He lived through a time when there was a regular cycle of boom and bust, with phases of economic expansion followed…
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