Ideas and analysis on money, markets and the world around us.
In early European trade this morning (Friday) gold was down $2 from last Friday’s close at $1,347. Silver is down 25 cents at $17.18. Comex volumes have declined, and the dollar has stopped falling. It has mostly been…
Read the articleThe battle for ideas in the Brexit debate comes down to two basic economic approaches. The neo-Keynesian macroeconomists in the permanent establishment, who manage the state as economic planners and regulators are on…
Read the articleConclusion: Overall inventories built this week, particularly crude (which is seasonally normal). Cushing still drew, we think this needs to end soon, which probably will require the WTI-Brent gap to close a bit…
Read the articleThis week, gold and silver continued their rise from the 11 December low, and are now up 9.3% and 11.6% respectively. In a little over five weeks, gold has increased more than the annual average since the Nixon shock in…
Read the articleConclusion: Further declines in US inventories, faster than even we predicted. Oil production growth is strong at close to 1mb/d and is now confirmed by the monthly data. The arb from Cushing to the USG for uncommitted…
Read the articleDeficits are mounting in pension obligations. It is a global problem over which pension trustees are helpless. It is also a problem that’s brushed under the carpet, with prospective and current pensioners generally…
Read the articleIt had to happen after a terrific run from early December, so a consolidation in precious metals is hardly a surprise. With gold trading at $1,337 in early European trade this morning (Friday) it is unchanged, and…
Read the articleThe one subject, which became a headline issue last year, and even divides experts is trade. It will become increasingly important in 2018 as the US develops her trade policy, particularly with respect to China, and as…
Read the articleConclusion: US petroleum inventories continued to declined rapidly, particularly Cushing stocks. Net imports are again at extremely low levels despite these draws. We believe this will ultimately have to close the…
Read the articleCoauthored by Josh Crumb & Roy Sebag Goldmoney’s mission is to provide global access to gold for secure savings and transactions, making an extraordinary element useful and empowering again. Technology and progress are…
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