Ideas and analysis on money, markets and the world around us.
Since 2009, equities and other financial assets have climbed a wall of worry. Initially, it was recovery from the threat of a complete financial collapse, before the Fed saved the system once again. Systemic collapse…
Read the articleConclusion: Neutral stats but impressive nevertheless given that we expected some reversal from the last 3 weeks extremely bullish reports. WE continue to expect larger draws going forward Total petroleum stocks built…
Read the articleGold and silver both edged up over the week, reflecting a firm undertone. Gold was up $4.50 from last Friday’s close at $1259 in early European trade this morning, and silver was up four cents at $16.56. On the year so…
Read the articleThe purpose of this article is to draw the widest attention to the chronic inability of the economic establishment to forecast recessions. Next time you hear an economist make a prediction on mainstream media, your…
Read the articleConclusion: Very bullish stats. We are three weeks into July and already drew 23.5mb, 36mb more than normal. We continue to expect larger draws in the remainder of 2H17 Total petroleum stocks drew 9.5mb,13.3mb more than…
Read the articleGoldmoney clients have been net buying all precious metals this week, with silver being the most heavily traded. Clients have preferred vaults in Zurich, London, Singapore, and Toronto, and have shown less preference…
Read the articleGold and silver recovered well this week, continuing a rally which is now two weeks old. Gold, priced in dollars, rose by another $13 to $1247.50 in early European trade this morning (Friday), up $31 from the lows of 7…
Read the articleThere are currently two important items on the Fed’s wish list. The first is to restore interest rates to more normal levels, and the second is to unwind the Fed’s balance sheet, which has expanded since the great…
Read the articleConclusion: Very bullish stats. Two weeks of solid draws in July paint a very bullish picture despite the apparent strong supply growth data. We continue to expect large global draws in 2H17 which will lead to stronger…
Read the articleGold and silver prices steadied this week, with gold up only $3 at $1218 in early European trade this morning (Friday), and silver unchanged at $15.68. As our headline chart shows, silver is now marginally lower on the…
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