Ideas and analysis on money, markets and the world around us.
Financial 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…
Read the articleThe importance of Russia’s announcement that a new gold-backed trade currency is on the BRICS meeting agenda for August 22—24 in Johannesburg seems to have gone completely over everyone’s heads, with mainstream media…
Read the articleGold and silver were hardly changed on the week, drifting lower on balance over the week. In Europe this morning, gold was at $1915, down $4, and silver $22.70, down 5 cents. Trade was light, with Tuesday affected by…
Read the articleThere are two components to the inflation story: the cycle of bank credit, which left to itself is self-cancelling, and the longer-term erosion of currency values. In examining the causes, this article goes back to…
Read the articleGold and silver declined further this week, as first growing suspicions that dollar rates would stay higher for longer undermined sentiment, and then a surprisingly strong US GDP revision for the first quarter of this…
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