Ideas and analysis on money, markets and the world around us.
Gold and silver were firmer on the week, with gold trading in Europe this morning at $2390, up $46, while silver was at $28.45, up 60 cents. While both were higher since last Friday, it is best described as a week of…
Read the articleIt’s gradually dawning on markets that lower dollar interest rates are a fantasy. If a chart speaks a thousand words, this is it: From its peak at about 15% in the early eighties, the trend for US bond yields was down…
Read the articleGold is at an all-time high (see Exhibit 1). This is against all odds given the level of interest rates. We have written extensively in the past how gold prices are driven by three main factors: Central bank policy…
Read the articleGold and silver continued their spectacular run, with gold testing the $2400 level in European trade this morning, up $70 from last Friday’s close, and silver $29.15, up $1.70 on the week. Trade volume in silver futures…
Read the articleIn recent weeks, silver’s price has been remarkably strong, threatening to break out above the levels established in August 2020. The long-term chart certainly looks positive. Could we be witnessing a major turning…
Read the articleEquities are pricing in a goldilocks scenario where global economic activity reaccelerates while inflation declines further, allowing the Fed - and potentially other central banks - to cut rates. However, we think there…
Read the articleGold and silver continued their run higher, defying predictions of profit-taking. From last Thursday’s close (Friday was Easter and market were closed), gold rose $50 to $2280 in early European trade this morning, after…
Read the articleYou will have to prepare for your currency to buy less and interest rates to rise: how will your portfolio fare, and will you afford your mortgage? In recent days, some commentators have begun to fear that interest…
Read the articleIn this Easter holiday shortened week, gold soared to new highs, while silver has yet to catch up. At close of play last night in New York, gold was $2233, up $70 and silver traded at $24.94, up a net $28 cents. Volumes…
Read the articleAnti-Russia and anti-China rhetoric is driving the western alliance towards all-out war against them. Increasingly, the only way an ultimate nuclear conflict can be avoided is either for the dollar-based fiat currency…
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