Ideas and analysis on money, markets and the world around us.
The bears have been feasting on the bones of the bulls this week, enjoying a sell-off in precious metals, that has been echoed in commodities generally. Gold fell a net $18 between last Friday’s close and early European…
Read the articleThe most important question faced by the human race is almost never addressed in modern times: which should be the master, the state over the individual or the individual over the state? It is particularly relevant…
Read the articleAs our headline chart clearly shows, gold and silver have returned to test the level set at the major turning point of last December. Will they break down and resume a slide, or will they bounce higher? The longer they…
Read the articleTonight (Thursday) President Trump comes to Britain on a much-anticipated visit. The political situation in Washington is very different from when Mrs May last visited. In Washington, President Trump appears to have…
Read the articleIn this second part of our updated gold price framework we take a deep dive into the true energy exposure of gold mining companies. We find that gold miners are not just exposed to significant direct energy costs such…
Read the articleAs our headline chart shows, gold and silver retreated to the low point in last December at the beginning of this week on Monday. Gold subsequently rallied to trade at $1256 in European trade this morning (Friday), up…
Read the articleThe world of finance and investment, as always, faces many uncertainties. The US economy is booming, say some, and others warn that money supply growth has slowed, raising fears of impending deflation. We fret about the…
Read the articleGold and silver sold off this week, and as shown in our headline chart, have lost nearly all the gains made since the last major turning point on 11 December 2017. Gold at its low yesterday was within $9 of that low,…
Read the articleTo understand the consequences of the credit cycle, we must dismiss pure opinion, and examine the evidence rationally. This article assesses the fate of the dollar on the next credit crisis, a subject of increasing…
Read the articleGold and silver fell heavily on good Comex volumes last Friday and continued to drift lower over the course of this week. From last Friday’s close, gold is down a further $10 at $1270 in morning trade in New York, and…
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