Blog
Mayday on May Day
For many of our clients and readers, today marks the beginning of a three day weekend as we head into the May Day Bank Holiday, a date observed across much of the world. It carries different meanings depending on where one stands, from pagan celebrations of spring through to International Workers’ Day. In some countries […]
The Oil Shock That Hasn’t Happened Yet
In the desert, a mirage convinces you relief is just ahead. The horizon bends, the heat makes the air appear to shimmer, and what looks like water turns out to be nothing more than heat and distance playing a trick on the eye. This metaphor came to mind again this week, as I found myself […]
Iran, Oil & Famine: How Bad Can It Really Get?
Today’s data presents a picture of resilience that sits somewhat uneasily alongside the geopolitical backdrop, with U.S. retail sales rising by 1.7% in March, comfortably ahead of expectations and reinforcing the view that consumer demand remains strong, and that the Federal Reserve may have less urgency to cut rates than markets had previously assumed. In […]
The Regulatory Battle to Make Gold a Bank Asset Just Hit a Major Turning Point
At the time of writing gold continues to trade above $4,800 per ounce, holding firm despite a noticeable lack of follow-through buying. At the same time, stronger-than-expected U.S. economic data has tempered immediate recession concerns. The Philadelphia Federal Reserve’s manufacturing index rose sharply in April, while jobless claims declined again, suggesting that parts of the […]
The Gold Market Explained (What Most Investors Get Wrong)
Gold moved higher this morning as markets assessed a fragile ceasefire between the United States and Iran, with investors weighing whether tensions in the Gulf will ease or escalate again. The move has been supported by a softer dollar and continued uncertainty around oil flows through the Strait of Hormuz, while attention now turns to […]
Why gold disappoints when certainty is expected
I had a birthday earlier this week, a reminder that while we are remarkably good at marking time, we are far less adept at predicting what will happen within it. For many of us we find there to be something deeply comforting about a date, particularly one that appears to bring order to events that […]
The System That Replaced the Dollar Is Already Running. And It Runs on Gold
The gold price is currently going through one of its most turbulent periods in recent history. This has unfolded against a backdrop of escalating conflict in the Middle East, disruption to critical energy routes and renewed uncertainty around inflation and interest rates. The Strait of Hormuz, through which a fifth of the world’s oil supply […]
Seven Silver Investing Mistakes
Like you, we have been watching in real time as a new and deeply unsettling chapter of instability unfolds in the Middle East. Over the past several days, a major conflict has erupted between the United States, Israel and Iran, broadening into strikes across the region that have closed strategic waterways, hit diplomatic posts, and […]
The Ecology of Influence and Why Markets No Longer Take Trust for Granted
In recent weeks, a series of revelations around the world has unsettled public confidence, exposing how influence can blur the boundaries between access, reputation and accountability. As a result, a cascade of consequences has swept through global institutions. Leaders of major organisations have stepped down under pressure, their past communications or meetings with a certain […]
