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Commentaries

Gold Outperformed Every Major Asset Class in H1

The dollar charted its worst start to a year since 1973. In fact, one could argue that it’s not so much that the gold is going up but that the greenback is sagging.

Fed Chair Candidate Warsh Wants More Inflation

During a recent interview with CNBC, Warsh called for regime change at the central bank, citing its reluctance to cut interest rates.

The Conspiracy Theory of History

The conspiracy theorist extends his analysis to...the creation of the Federal Reserve System. The conspiracy theorist asks himself the question cui bono? Who benefits from this measure?

Chinese Food for Thought and Taking Your Bank

RM: The agricultural trade situation in the US is butt ugly, US farm imports to China in the first three months of 2025 were down 50% on the year.

The Art of Prediction, the Folly of Certainty, and the Case for Gold

This week I found myself...submitting forecasts for the Reuters Precious Metals Survey. It’s a peculiar exercise, this act of prediction, especially in the world of gold.

Inflationary Confusion

Today we’ll draw on some of my best sources to survey the inflation trends. As you’ll see, the direction isn’t as clear as either hawks or doves think.

Trump’s ‘Big Beautiful Bill’: Defense Dollars, Debt, and the Real Cost of Spending Sprees

Forget about trillion-dollar deficits. That’s far in the rear-view window. We’re looking at three, four, and five trillion-dollar deficits.

2,200 Year Old Money Discovered in Czech Republic

Gold and silver ultimately became money simply because people wanted to use them as such. No government mandate was necessary. The metals spontaneously evolved as money...

Morgan Stanley Expects Further Euro Gains — A Tailwind for Gold?

Gold has been treading water in recent months, consolidating between $3,200 and $3,500 — a typical summer pattern as news flow and trading volume slow with traders on vacation.

Central Banks Buying More Domestically Produced Gold

Central banks have increased their gold holdings by over 1,000 tonnes for three straight years.

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