Ideas and analysis on money, markets and the world around us.
While gold ran into some profit-taking this week, silver was the star performer. From last Friday’s close, after further strong gains taking gold as high as $1550, this morning in European trade gold was down $2 at…
Read the articleThe reason for persistent strength in the price of gold can be found in the changing relationship between time preference for monetary gold, and a new round of interest rate suppression for the dollar. Evidence mounts…
Read the articleGold and silver continued their consolidation into an eighth trading day this morning, from the intraday peak on 13 August. The band has tightened on declining Comex volume, which is as one would expect in a bullish…
Read the articleIn “The General Theory of Employment, Interest and Money”, Keynes virtually created macroeconomics. But Keynes was a mathematician, not an economist, and did not fully understand free markets, so he was hardly qualified…
Read the articleGold and silver continued to strengthen this week, both seeing new closing highs for the year. Gold rose by $12 from last Friday’s close to trade at $1510 in early morning European trade and silver by 15 cents to…
Read the articleSilver prices have lagged gold prices since 2017 which has pushed the gold-to-silver ratio close to the all-time high. Silver prices are also significantly below what is predicted by our pricing model. We think that the…
Read the articleThis article demonstrates that only government borrowing in the US and UK drives GDP growth. This surprising conclusion is confirmed by long-run statistics. GDP does not represent economic progress, nor does it include…
Read the articleIn their best week for a long time, gold and silver continued their upward move against all currencies. Against the dollar, gold rose $62 on the week to trade at $1502 in early European trade, and silver by 80 cents to…
Read the articleGrowing evidence of a severe global recession is sure to provoke more aggressive monetary policies from central banks. They had hoped to have the leeway to cut interest rates significantly after normalising them. That…
Read the articleDuring the week when on Wednesday the Fed cut its headline interest rate by 0.25% gold and silver had some big moves. It was the first interest rate reduction in eleven years. Gold traded in a $48 range yesterday…
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