Gold Editorials & Commentary

How many hours of work would it take to purchase one ounce of gold? Now you’ll know.

“I think instinctively – I can’t prove this, we’re going to learn about this empirically – but it seems to me that the neutral rate is probably higher than it was during the intra-crisis period. And so, rates will be higher.”  (Jerome Powell, July 2024)

The best performing precious metal for the past week was gold, up 0.27%. According to Bank of America, central bank gold inflows totaled 2,575 tons over the past five years, with the largest buyers being China (+412 tons, a 22% increase in holdings), Türkiye (+359...

Gold’s break out of a 13-year cup and handle pattern is likely the start of a new secular bull market. However, as we wrote last week, a new secular bull market in the entire precious metals sector cannot begin until Gold breaks out against the conventional 60/40...

Piepenburg rolls up his sleeves with a blunt assessment of BTC’s so-called “digital gold” slogan, which, based on the very definitional elements of money and the mathematical elements of volatility, clearly makes BTC neither a store of value nor a medium of exchange...

The World Gold Council has just released its gold forecast for 2025, which they expect to be a 'range-bound' year for the metal.

Gold’s net change for this past week was a wee +0.4%; yet ’twas hardly mute en route.  Prior to settling yesterday (Friday) at 2666, price was boffed about by another geo-political “spike n’ sink”, further impinged by November’s StateSide inflationary data.

According to the latest monthly statement from the Treasury Department, the US government spent $668 billion in November, the second month of the 2025 fiscal year. That’s in addition to October’s spending total of $584 billion, for a total of $1.25 trillion in...

Gold is currently down $19 here on the day as of this Friday morning recording and trades at $2,673 – up an even 1.0% still for the week. Silver, meanwhile, which was essentially unchanged on the week through Thursday’s close, is off 50 cents here today to trade at...

Gold sector cycle is down. Trend is up for USD and down for gold & gold stocks. Looking for a new set up to trade the short side.

At long last, complaints of gold price manipulation and suppression got some respect this week from the Official Monetary and Financial Institutions Forum, a London-based group connected with central banks. 

Given gold’s recent decline and a much bigger decline in silver and mining stocks, one might wonder whether miners’ and silver’s weakness are telling the truth about the precious metals market’s outlook, or if it’s gold that’s been holding up relatively well.

Gold stocks remain big bargains, still priced for bygone much-lower gold prices.  Gold miners are earning enormous record profits, fueled by gold’s powerful bull market.  Yet traders have been slow to recognize this, leaving gold stocks seriously undervalued...

Gold tested crucial resistance around $2,760 and then reversed sharply. Unless there’s a rapid shift, this likely signals the end of the current rebound. Silver stalled above $33.00 on Thursday, and the likelihood now leans towards a secondary decline towards $28.50...

Here are today's videos and charts.

It seems the best we can hope for on the inflation front is a CPI report “in line with forecasts.” The mainstream media was giddy, and the markets responded positively to the November CPI report because every metric came in as expected.

In the latest episode of the Money Metals Midweek Memo, host Mike Maharrey explored the rocky relationship between Bitcoin, gold, and their roles in today’s financial world. 

In a recent interview with Charlotte McLeod of Investing News Network, JP Cortez, Executive Director of the Sound Money Defense League, shared insights into the organization’s progress, challenges, and goals. 

During his 2024 presidential campaign Donald Trump repeatedly and in grave terms highlighted the possibility of the US dollar losing its world reserve currency status. This occurred at summits with business leaders at the New York and Chicago Economic Clubs.

The 10yr-2yr yield curve remains on its new steepener. The macro is grinding along, subject to daily noise that drives nominal yields up or down (today’s noise du jour is in-line inflation and a projected Fed rate cut). But the 10yr-2yr yield curve does not really...

VON GREYERZ partner Matthew Piepenburg joins David Lin for a blunt-spoken perspective on the realities facing the incoming Trump administration. Tariff actions, job reshoring, DC “swamp cleaning,” and USD policies are juxtaposed against inevitable inflation...

After reaching a new all-time high of USD 2,790 on October 30th, 2024, gold prices experienced a sharp and rapid pullback, hitting a low of USD 2,535 on November 14th. This correction was driven by a combination of speculative profit-taking and broader market...

The ratio of gold stocks (GDX) to broad US large caps (SPY) has work to do to recover. However, recover I believe it will. Before the election the GDX/SPY ratio had made a nice bottoming pattern and base. Then just before the election it broke up and out from the...

Matthew Piepenburg, Partner at VON GREYERZ, closes out 2024 with a no-holds-barred conversation with Grant Williams of Things That Make You Go Hmmm. Together, they dive into the fallout of the post-Trump election era and shift focus to the deeper, often-overlooked...

After a six-month pause, China's central bank officially resumed gold purchases in November. According to data released by the People's Bank of China, it added about five tons of gold to its reserves in November.

Gold and silver prices started selling off after it became clear that Trump was going to win the election. Although just a few weeks later both markets have recovered in the midst of more geopolitical tension and the indication of more easing from China.

Gold continues to march higher from the $2550 buy zone, and silver is beginning to look like the short-term leader of the precious metals pack.

The Gold/RINF ratio positively diverged HUI into today’s upside. I am not going to pretend I had it all figured out. Indeed, I got burned on a partial hedge on my gold stock positions (that’s show biz). This is not a site or a service that likes to tout only some of...

As we approach what usually should be a blissful holiday period, the treacherous path the world is now on does not bode well for 2025 and beyond. Two global crises will dominate the world for at least several years and possibly decades.

“Don’t look a gift horse in the mouth.” That was my first thought on seeing gold up about $45...and silver jumping 4%...this morning while other markets weren’t confirming the moves.