Consolidating
This 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 articleA wider perspective.
Ideas and analysis on money, markets and the world around us.
Why the dollar is finished
Last 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 articleBreakout!
After 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 bell tolls for fiat
The 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 articleBond yields soaring
Gold 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 articleThe real determinants of currency value
There 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 articleUS GDP surprise hits gold, silver
Gold 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…
Read the articleGeopolitical evolution
The increasing number of nations seeking to join BRICS brings geopolitics into the spotlight. At the time of writing, existing members, those who have applied to join and those expressing an interest total 36 nations,…
Read the articleHigher interest rates for longer…
Gold and silver fell sharply this week as a number of central banks increased their interest rates, spooking traders who look for short-term profits. In Europe this morning, gold traded at $1917, down $40 from last…
Read the articleUpdating Say’s law for modern times
It was Keynes’ offhand dismissal of Say’s law, or the law of the markets, in 1936 which is leading us into an economic and monetary crisis. It was dismissed by him to invent a role for the state. That is why Keynes is…
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