Ideas and analysis on money, markets and the world around us.
In testimony before Congress in 1912, J.P. Morgan, the leading financier of his day, declared: "Money is gold, nothing else." A century later a diametrically opposing view was taken by Wall Street legend Warren Buffett…
Read the articleThis was the week the Federal Open Market Committee decided to start tapering. The result was gold traded below $1200 yesterday for the first time in nearly six months, and silver pulled back to $19.10. The action is…
Read the articleBy November, the most recent month for which statistics are available, the US Fiat Money Quantity (FMQ) had grown to $12.351 trillion. This is $4.96 trillion more than it would be if it had grown in line with the…
Read the articleNow we know: The Fed is going to purchase $75bn of assets, a reduction of $10bn a month. The two other bits of information that came from the FOMC meeting were that purchases of US Treasuries and mortgage bonds are to…
Read the articleThere is inevitable speculation that tapering might be announced at the FOMC meeting this Wednesday. It should be noted that this is Ben Bernanke’s swansong, and if tapering is to be announced he would probably go out…
Read the articleFor many commentators there are two distinct camps in the gold market: investors in bullion and speculators in the paper market. With the two markets pulling in different directions some dealers think it is only a…
Read the articleIs it the right time to buy gold, particularly for retirement purposes? Martyn White of GoldMoney provides us with the answers to some pertinent questions. Read the complete article in Business Brief .
Read the articleI imagine many GoldMoney customers read much commentary relevant to gold and economics, and come up against Say's Law. Its importance might not be immediately obvious. Jean-Baptiste Say was a French businessman and…
Read the articleThis week has seen a mighty struggle as the bears tried to push the gold price below the $1200 level. However on both occasions the price rallied strongly afterwards. On Comex, Managed Funds' short positions have…
Read the articleA common misconception in markets about the price of gold is that rising interest rates for a currency will always drive the price of gold down against it. I shall come to market relationships in a moment, but first we…
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