Markets

Focuses on the economic forces shaping metal prices, including real rates, inflation, credit cycles, cost curves, and the mechanics of global supply and demand.

Markets

Aug 8, 2026

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3 min read

What China Is Building Around Gold

Four of five clearing banks are already inside the new system.

Markets

Aug 4, 2026

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4 min read

What Just Overtook U.S. Treasuries

The first time since 1996. Central banks made the switch quietly.

Markets

Aug 1, 2026

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3 min read

What $300B Taught Gold Buyers

One weekend in 2022 rewrote the rules of custody.

Markets

Jul 25, 2026

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3 min read

The Gold Shortage No One Reported

Six fund houses stopped taking money the same month.

Markets

Jul 22, 2026

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3 min read

China Bought Gold 20 Months Straight

They kept adding while everyone else was selling.

Markets

Jul 18, 2026

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3 min read

When Gold Last Outranked Treasuries

38% gave the same answer in writing.

Markets

Jul 12, 2026

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3 min read

$2.8 Billion a Day in Interest Alone

Each payment is borrowed, then charged interest itself.

Markets

Jul 5, 2026

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3 min read

The Fed's 22% Miss in 90 Days

Negative real rates drove a 2,300% move last time.

Markets

Jun 28, 2026

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3 min read

The IOUs Inside Social Security

The government wrote every one of them to itself.

Markets

Jun 27, 2026

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3 min read

The Fed's $3.2 Trillion Math Error

The dot plot just broke every deficit projection for the next decade.

Markets

Jun 25, 2026

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3 min read

What the CPI Missed by 2.3 Points

Every stage of production is running hotter than the one below it.

Markets

Jun 21, 2026

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3 min read

What 44% of the Deficit Pays For

Almost half the deficit just covers old borrowing.

Markets

Jun 20, 2026

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3 min read

Silver Fell 42%. The Shortage Didn't

Paper holders were forced out, but the metal stayed put.

Markets

Jun 18, 2026

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2 min read

Paper Gold's Backing Keeps Shrinking

Not to another vault. Out of the delivery system entirely.

Markets

Jun 10, 2026

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3 min read

How the Fed Made Inflation Vanish

Your grocery bill didn't get the memo.

Markets

Wall Street's Premier Gold Model Just Broke

Jun 7, 2026

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3 min read

Wall Street's Premier Gold Model Just Broke

The metal moved. The paperwork never caught up.

Markets

Jun 6, 2026

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3 min read

Why China Is Trading Homes for Gold

A generation of savings needed a new place to go.

Markets

May 31, 2026

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2 min read

How 66 Tonnes of Gold Disappeared

Twelve tonnes became 66 after a nine-month blind spot.

Markets

May 28, 2026

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3 min read

The Trap Behind the Fed's Next Move

Hiking breaks the budget. Holding breaks the dollar.

Markets

May 27, 2026

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3 min read

How 20.9% Becomes 3.8% Inflation

Raw costs surged 20.9% in the same report no one opened.

Markets

May 23, 2026

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3 min read

$11 Billion in Gold Worth $1.2 Trillion

The market moved on, but the ledger never did.

Markets

May 19, 2026

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3 min read

One Fed Mistake Sent Gold Up 2,300%

Warsh just inherited the same conditions Burns faced in 1970.

Markets

May 16, 2026

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2 min read

What Backs Your Paper Gold Now

Every melted bar shrinks the pool backing your paper contract.

Markets

May 13, 2026

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3 min read

The Only Tool That Ever Killed Gold

The old playbook died on a balance sheet.

Markets

May 10, 2026

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2 min read

Who Outgolded the ECB

Warsaw built a sovereign exit one monthly purchase at a time.