Articles

The latest U.S. inflation figures are well above predictions. The consumer price index (CPI) rose by +3.7% year-on-year in December. Inflation appears to be accelerating, exceeding the pace recorded at the same time last year.

Inflation takes off at around 4% in Japan, a significant level for a country which, apart from the 2014 surge, has generally recorded inflation rates close to zero, or even negative, since the turn of the century.

The total mismanagement of the US financial system has led to the dollar losing 98% of it’s value since Nixon closed the gold window in 1971. Most other currencies have followed the dollar down at varying speeds.

Gold prices anticipate the shift in the investment cycle from growth stocks to tangible assets. The yellow metal also benefits from its safe-haven status in a context of economic uncertainty.

With many political elections due to take place in 2024, the economic and financial outlook is likely to tip the balance for better or worse.

Egon von Greyerz and Matthew Piepenburg take a sober look ahead at a macro environment riddled with undeniable event-risk—from geopolitics and asset bubbles to debased currencies and distrusted global leadership.

Central bank purchases in November 2023 continued to be dominated by banks who have been regular buyers so far this year. Major buyers were all from emerging markets. The Central Bank of Turkey added the most gold during the month (25t), followed by the National Bank of Poland and the People’s Bank...

We may well see a debt refinancing crisis, and anticipating how we might overcome this impasse is difficult, given the uncertainty surrounding the potential intervention of central banks in the face of this debt wall.

It's time to put a stop to this belief, oversold by certain bankers and financial magazines: No, stocks are not the best long-term investment.

As we start a new trading year, gold and silver are both presenting long term set-ups that may well propel price to much higher levels over the coming years.

Visibility on the fundamentals of the gold price remains as good as ever. It is therefore timely for us to present and detail our outlook for 2024. Gold's performance in 2024 will be influenced by 4 major factors.

The price of gold ends 2023 with a new record closing price. The yellow metal was one of the best-performing assets, up +16% for the year as a whole. The S&P 500 index did slightly better, but gold outperformed European equity markets.

As my last report for 2023, I wanted to hit the big issues blunt in the face—from debt and sovereign bond markets to themes on the USD, inflation, risk markets and physical gold.

The rejuvenation of gold buyers in China is explained by the slowdown in the property market, the weakness of equities and the currency, as well as low bank interest rates. Young Chinese, concerned about economic stagnation, are turning to gold as a financial refuge.

Real estate prices in France are falling, but have we seen the last of expensive housing? Far from it! Price distortion has reached a level that will take a long time to resolve. And this rise in property prices is a global phenomenon.

In a recessionary environment, gold has a history of statistically outperforming other assets, and could prove to be a rather interesting choice in this context.

This week we'll look at the fascinating 100-year chart of the United States Inflation Rate as well as long-term charts of inflation-sensitive Silver and Oil to see if we can find clues about where inflation could be headed next.

The Fed's change of tone offers a different outlook for precious metals: with the dollar weakening, fears of recession, lower rates and the threat of renewed inflation that a Fed pivot would generate, gold has every chance of resuming its upward trend as early as next year.

The interest rate hikes implemented by central banks since the resurgence of inflation have appeared to be the norm. However, it is a revolution in the making. After decades of falling rates, they are now rising sharply, raising fears of unprecedented financial and economic risks.

The economic situation in Germany is deteriorating at an alarming rate. French economic indicators are showing a deterioration, characterized by a sharp contraction in activity in the last quarter. Gold in euros seems to be taking advantage of this situation.