Ideas and analysis on money, markets and the world around us.
As the world descends into a much-heralded recession, the surprise will be that interest rates will continue to rise as economic activity contracts. This is not what the economic establishment expects. This article puts…
Read the articleIn the last few days, gold and silver have paused their earlier rises. In the case of silver, these have been substantial, as shown in our headline chart. In gold, less so; but it does appear that silver is leading both…
Read the articleAs evidence mounts that the major western economies are heading into a banking and monetary crisis due to contracting credit, we face the consequences of unsound money. The era of fiat is drawing to a close and its…
Read the articleGold and silver rallied from the lows of last week in quiet Comex trade for gold, but more active trade in silver. In Europe this morning, gold was at $1916, up $27 from last Friday’s close, and silver was up $1.30 at…
Read the articleIt is slowly coming clear that the fiat dollar’s hegemony is drawing to a close. That’s what the BRICS summit in Johannesburg is all about — rats, if you like, deserting the dollar’s ship. With the dollar’s backing…
Read the articleThe sell-off in precious metals which started in late July continued this week, but its momentum slowed with silver even showing a modest gain on the week so far. In early European trading, gold was $1892, having traded…
Read the articleGlobally, further falls in consumer price inflation are now unlikely and there are yet further interest rate increases to come. Bond yields are already on the rise, and a new phase of a banking crisis will be triggered.…
Read the articleGold and silver drifted lower this week towards a test of the late-June lows. In European trade this morning, gold traded at $1918, down $24 from last Friday’s close, and silver traded at $22.7, down 89 cents. On Comex,…
Read the articleThis chart strongly suggests that US Treasury bond yields, widely regarded as the risk-free yardstick against which all other credit is measured are going significantly higher, not stabilising close to current levels…
Read the articleThis week, gold and silver prices were undermined by rising bond yields, allowing bullion banks to mark prices lower and cover their short positions. In Europe this morning, gold traded at $1934, down $32 from last…
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