Ideas and analysis on money, markets and the world around us.
Conclusion: Mixed bag of statistics this week. Total stocks continued to decline on a seasonal basis, but only slowly. Implied demand collapsed once more but that is likely a data issue. Net imports fell to extremely…
Read the articleGoldmoney clients have been net selling all precious metals this week, with gold being the most heavily traded. Clients have preferred vaults in Zurich, Toronto, and London, and have shown less preference for the…
Read the articleOne of the saddest things about Britain’s recent general election was the level of ignorance displayed by all parties on the broad subject of political economics. I use the term to include both political philosophy and…
Read the articleConclusion: The stats appear bullish at face value, but a large part of the inventory draws is a reversal from the very bearish stats over the past two weeks. On the bullish side, the sharp decline in implied demand has…
Read the articleThis week, the Fed’s FOMC increased the Fed funds rate by 0.25%, to a target of 1% to 1.25%. This was so certain to happen it was fully discounted in the markets. The FOMC also gave some details about its aspirational…
Read the articleGoldmoney clients have been net selling all precious metals this week, with silver being the most heavily traded. Clients have preferred vaults in Zurich, Singapore, and London, and have shown less preference for the…
Read the articleBritain’s general election went horribly wrong, with the Conservatives forced into a putative coalition with the Democratic Ulster Party. Theresa May’s failure to secure a clear majority has provoked indignation,…
Read the articleOur quick take on the WEEKLY SUPPLY ESTIMATES published by the US Department of Energy (DOE) including detailed tables and charts. This week’s highlights: Conclusion: Neutral stats at first sight as stock build was…
Read the articleGold and silver prices moved further ahead this week, with gold up by $21 from last Friday’s opening (Friday was a strong day) to $1287 in early trade this morning (Thursday). [Regular readers of this market report…
Read the articleThe World Economic Forum, in conjunction with Mercers (the actuaries) recently estimated that the combined pension deficit currently stands at $66.9tr for eight countries, rising to $427.8tr in 2050. The eight countries…
Read the article