Ideas and analysis on money, markets and the world around us.
Globally, 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…
Read the articleFinancial developments in the Russian and Chinese axis are being generally ignored. The confirmation by Russia that a trade settlement currency for an expanded BRICS is on the agenda at the Johannesburg summit later…
Read the articleYesterday (Thursday) figures were released estimating that US GDP grew by 2.4% annualised in the second quarter, compared with expectations of 2%. Buoyant consumer demand is expected to defer any monetary easing by the…
Read the articleIt is an error to expect inflation to continue to fall in America. All financial market values in the US and elsewhere are predicated on this hope. The misunderstanding is to assume that the widely expected recession…
Read the articleThis week has seen a consolidation in gold and silver of their price rises from the end of June lows. In Europe this morning, gold was trading at $1964, up $9 on the week after testing $1987 on Tuesday. Silver was…
Read the articleLast week in my Goldmoney Insight, I analysed the rationale for a new gold backed trade settlement currency on the agenda of the BRICS summit in Johannesburg on 22—24 August. This article is about the consequences for…
Read the articleAfter drifting lower for the last two months, silver staged a massive breakout on good volume, followed by gold. In Europe this morning, silver was $24.75, up $1.75, and gold $1957, up $48. On Comex, Open Interest rose…
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