Ideas and analysis on money, markets and the world around us.
Gold 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…
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…
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