Ideas and analysis on money, markets and the world around us.
This week saw profit-taking in gold and silver, no doubt encouraged by bullion banks whose short positions doubtless became extremely uncomfortable. After a strong start to the week, profit-taking set in, driving gold…
Read the articleJay Powell has signalled that inflation is moving sustainably towards the Fed’s 2% target and that the jobs market has cooled down. Hopes for an interest rate cut are rising, but the Fed is being misled badly… The…
Read the articleGold is rising to challenge all-time highs, with Open Interest on Comex soaring faster than ever seen before. It reflects a physical liquidity crisis. After a volatile week so far, gold and silver opened lower this…
Read the articleIt’s all about credit. Demand to fund rising government deficits and keep zombie corporations alive will drive up interest rates. This article explains the consequences for currencies and financial values. It’s all…
Read the articleOvernight gold demand from China appears to have returned. Will it follow through? As evident in our headline chart, silver had a better week while gold steadied, seemingly well underwritten at current levels. Gold…
Read the articleI was recently asked by one of my Substack subscribers to explain why the use of interest rates in an attempt to manage inflation does not work. It is simply not the true function of interest rates. Primarily, an…
Read the articleChinese buying unwound into yesterday’s London morning fix? This week, gold and silver suffered a significant markdown on Tuesday and Wednesday as Comex contracts ran into the month end expirations with the additional…
Read the article“The west declared a war against us… And now we are going to distribute nuclear weapons to anyone who can use it against the west” — Aleksandr Dugin The reaction in Russian government circles to the cluster bomb attack…
Read the articleA new wave of Asian demand could be beginning to drive gold and silver. Traders will be watching for signs of overnight demand returning ahead of London’s morning fix. Gold and silver had a better week, with gold at…
Read the articleThe intensification of conflict between the western alliance and the Asian hegemons is speeding up. America and NATO have lost control, and their fate is now in the hands of Russia and China. A number of disparate…
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