Ideas and analysis on money, markets and the world around us.
While stocks and bonds crashed this week, gold and silver rallied, recovering most of the ground lost in a sell-off on Monday. In Europe this morning, gold traded at $1850, down a net $20 having traded as low as $1806…
Read the articleNow that interest rates are rising with much further to go, the global banking system faces a crisis on a scale like no other in history. Central banks loaded with financial securities acquired through QE face growing…
Read the articleGold and silver moved sideways this week in light to moderate trade. In European markets this morning, gold traded at $1847, down $3 from last Friday’s close, and silver at $21.70 was down 20 cents. Sentiment is…
Read the articleWhile markets seem becalmed, financial conditions are rapidly deteriorating. Last week Jamie Dimon of JPMorgan Chase gave the clearest of signals that bank credit is beginning to contract. Russia has consolidated its…
Read the articleAfter a minor sell-off earlier in the week, gold and silver rallied on Wednesday and Thursday. Trading was moderate despite being interrupted by holidays — Memorial Day in the US on Monday and the Queen’s Jubilee…
Read the articleInitiated by monetarists, the debate between an outlook for inflation versus recession intensifies. We appear to be moving on from the stagflation story into outright fears of the consequences of monetary tightening and…
Read the articleCentral bankers’ narratives are falling apart. And faced with unpopularity over rising prices politicians are beginning to question central bank independence. Driven by the groupthink coordinated in the regular meetings…
Read the articleThe sell-off in gold and silver accelerated this week. Gold traded at $1822 in Europe this morning, down $61 from last Friday’s close, and silver at $20.80 was down $1.50. Comex volumes in both contracts were high on…
Read the articleIt is apparent from media commentary that there is considerable misunderstanding over the causes behind rising prices and the consequences for interest rates. There are now signs that the official narrative over these…
Read the articleIn a general flight into the US dollar, this week the yen, euro, and pound weakened while the dollar strengthened. Accordingly, the hedge funds on Comex were selling gold and silver to buy the dollar. And in European…
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