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Silver Down 50%: Why The Physical Floor Is Different From The Paper Crash
Silver has bounced this morning, but the broader question for investors remains unresolved. After falling back into the high-$50s from its January highs above $120, silver has delivered the kind of reversal that naturally raises doubts. At the time of writing, spot silver was trading near $58.96, up around 1.3% on the session, while gold […]
Central Banks’ Gold Strategy
After a bruising couple of weeks, gold and silver markets have started to look more constructive again. Gold fell heavily last week, briefly trading close to $4,100 per ounce, its weakest level for several months. Since then, it has recovered to around the $4,300 to $4,350 area. Silver followed a similar pattern, falling toward the […]
The SpaceX IPO and the Return of Financial Gravity
The most interesting thing about the SpaceX IPO is not SpaceX. It is what investors are being asked to believe. That may sound unfair, because SpaceX is not just some flimsy market confection dreamed up to exploit the latest financial fashion. It has built rockets, launched satellites and changed the economics of space in ways […]
Should you Sell Your Gold To Buy SpaceX?
At the time of writing, spot gold was trading near $4,115.90 an ounce after the latest U.S. inflation data, leaving investors with an obvious question: is this a buying opportunity, or is there worse to come? The May Consumer Price Index rose 0.5%, while annual headline inflation climbed to 4.2%, up from 3.8% in April. […]
Dollar Swap Lines Are Now A Political Tool – Gold & Silver Markets Are Responding
You may have seen the news yesterday that gold has now overtaken US Treasuries as the world’s top reserve asset. According to the European Central Bank, gold now accounts for 27% of global central bank reserves, compared with 22% for US Treasuries. Central banks have been net buyers of physical gold for many years now, […]
India’s Government Just Taxed Gold & Silver
Earlier this week, India, the world’s second-largest gold market, raised import duties on gold and silver. This comes only days after Prime Minister Modi asked Indians to stop buying gold for a year, in an effort to protect the rupee and conserve foreign exchange. First, the government asked citizens not to buy gold, as Jan […]
A Government Just Ordered Its Citizens To Stop Buying Gold Right Now
Today’s precious metals markets are once again having a frustrating time of it. Spot gold is weaker and silver is sharply lower despite an impressive performance yesterday. Meanwhile, the U.S. dollar is firmer, Treasury yields are higher and oil has jumped again as the U.S.-Iran conflict continues to dominate the macro picture. Interestingly, US April […]
Central Bank Gold Sales: The Worst Thing To Happen To Gold This Century?
Gold has climbed to a two-week high today as a weaker dollar and falling oil prices reshape market expectations. Hopes of a potential peace agreement between the U.S. and Iran have pushed oil prices lower. That, in turn, has supported bond markets, eased yields and reduced expectations of further rate hikes by the Federal Reserve. […]
Deutsche Bank Just Said Gold Is Going To $8,000
Gold is trading higher again today, holding above $4,600 as markets digest slower-than-expected U.S. growth and persistent inflation. On the surface, it looks like a long-term familiar story: steady demand in an uncertain macro environment. A report from Deutsche Bank released earlier this week suggests this is a growing structural issue, which may result in […]
