No tapering
It was not too surprising that there is going to be no tapering for some very good reasons. The commencement of tapering would have led deliberately to bond yields rising, triggered by an increase in sales of government…
Read the articleA wider perspective.
Ideas and analysis on money, markets and the world around us.
Central bank balance sheets
Now that there is growing evidence of GDP growth, we must consider a new topic: the likely effect on central bank balance sheets, using the US Fed as an example. Since the banking crisis the Fed has acquired substantial…
Read the articleMarket report Demand continues for physical supplies from Asian buyers
Gold and silver finished a poor week by getting hammered badly on Thursday. The rout started at 07.54AM UK time when a sale of 2,000 contracts was sufficient to force a 20 second trading halt on overnight NANEX futures…
Read the articleThe 80/20 rule
Recent statistics are confirming “economic recovery” in the UK and even some of the weaker eurozone states. I put this in parenthesis, because what we are seeing is expanding nominal GDP, which is not the same thing.…
Read the articleGold market report: Consolidation from the end-August peaks continued this week
The consolidation from the end-August peaks for gold and silver continued this week. After last Friday’s sell-off, both metals rallied on Monday and Tuesday, before sinking to under $1370 for gold and $23.15 for silver…
Read the articleMarket report Gold and silver consolidated this week
Gold and silver consolidated this week, following an explosive $30 rise for gold ($1.20 for silver) last Friday. In precious metals markets there has been a change in sentiment from extreme bearishness to “don’t know”.…
Read the articleTiming is upon us
There is increasing evidence that money is migrating from purely financial into economic activities. Business and retailer surveys all point in this direction. GDP forecasts are cautiously being revised upwards. While…
Read the articleGold market report: It has been a week of consolidation for precious metals
It has been a week of consolidation for precious metals, having started with gold at $1,380 and silver at $23.20, ending at similar levels this morning. The consolidation has been rather shallow, no more than 25% of the…
Read the articleMore on bubbles and bricks and mortar
In my last article I concluded there are all the signs of money moving from purely financial activities into assets such as residential property. Conventional thinking is on the lines that we are seeing yet another…
Read the articleGold market report It has been quite a week
It has been quite a week for gold and silver, with gold extending its rally from the 7th August low of $1272 to highs of $1370 and silver from $19.12 to $23.15 in Asian trading last night. The market seemed to be on the…
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