Banks

While some banks maintain expectations of prices exceeding $6,000 per ounce, and following gold’s spectacular rise in 2025, should we expect this super-cycle trend to continue?

Given the situation of COMEX in New York and the difficulties experienced by the London market in October, a growing part of the world is turning to the Shanghai fixing. India's decision is a clear illustration of this: the world's center of gravity is no longer in Europe, but in Asia.

The gap between the euphoria in the equity markets and the first cracks emerging in certain areas of credit is striking. In this environment, gold plays the role of an insurance against a financial accident or a sudden reversal in liquidity.

The illusion of a transatlantic alliance is crumbling day by day. As threats to European countries multiply, Donald Trump is simply repeating what the United States has always done: dividing Europe without breaking the alliance, in order to maintain its hold. But this time, European countries see...

Today, China appears to be the absolute master of the silver market. The directives recently published by Beijing clearly show its intention to retake full control of this market and revalue the metal to levels many multiples above its initial price.

The rise in financial optimism comes at a time when the real economy is beginning to turn around. Historically, this type of dynamic precedes recessions. In this context, gold does not reflect a past crisis; it insures against a loss of future visibility.

The decline of the gold price simply reflects the scarcity of dollars. When financing tightens, funds temporarily sell their most liquid positions – including gold. Historically, these periods of consolidation in a stressful monetary environment always precede sharp recoveries.

India has taken a historic step toward the remonetization of silver — officially allowing the white metal to serve as collateral for bank and non-bank loans under new Reserve Bank of India (RBI) regulations set to take effect in April 2026.

In June 2025, the Chinese government took measures to encourage mining production, its financing, refining, and recovery. The most effective lever for achieving these objectives is to revalue the price of precious metals.

To function, a gold standard would require a far higher price than today. Will Donald Trump, willingly or not, help China and Russia rebuild the international monetary system? The answer could come within weeks — or months at most.