Earlier this week my colleagues and I spent some time discussing a pretty worrying JP Morgan chart, published as part of a wider Bloomberg article. It shows total visible oil inventories, measured in billions of barrels, but the picture it paints is one of an uncomfortable truth. As the Bloomberg article recalls, oil inventories surged […]
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 […]
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 […]