Ideas and analysis on money, markets and the world around us.
Conclusion: This weeks DOE statistics look very bullish at first sight with large counter-seasonal draws in total petroleum and – contrary to initial concerns after the storm – those draws occurred mainly in crude.…
Read the articleIn Britain, the top 1% of earners pay over a quarter of all income tax collected, and while super-rich British residents perhaps don’t have the tax breaks the Macklowes enjoy, the bulk of the burden falls on lawyers,…
Read the articleConclusion: This weeks DOE statistics remained impacted by Hurricane Harvey, but the dust slowly settles. While stocks remain in draw mode, and surprisingly, crude stocks drew, we need to see how imports develop over…
Read the articleGold and silver were sharply down this week, with gold off $23 at $1297 from last Friday’s close in early European trade early this morning (Friday), and silver off 56 cents at $17.03 on the same time scale. As can be…
Read the articleThe global economy is now in an expansionary phase, with bank credit being increasingly available for non-financial borrowers. This is always the prelude to the crisis phase of the credit cycle. Most national economies…
Read the articleConclusion: The weekly DOE statistics are still heavily impacted by the aftermath of hurricane Harvey in this weeks stats and will remain impacted for a few weeks. The numbers look very bullish at first sight, but part…
Read the articleAfter the spectacular run from the lows of early July, gold and silver took a breather this week. Bullion markets on Comex had become very overbought, so a pause was inevitable, and healthy. In early European trading…
Read the articleNow that gold has become overbought on Comex, the price is vulnerable to being trashed, yet again, by the too-big-to-fail banks. It is a familiar operation in gold futures markets, where speculators buying contracts…
Read the articleConclusion: The weekly DOE statistics are heavily impacted by the aftermath of hurricane Harvey in this weeks stats and will remain impacted for a few weeks. This weeks inventory build in crude was less than the market…
Read the articleAs can be seen in our headline chart, gold and silver powered ahead further this week, and appeared to be undergoing a rerating. Gold this morning in early European trade was trading at $1354, up from $1320.80 at last…
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