Central banks

Gold continues to trade at high levels, but it is silver that is attracting the most attention. Day after day, the silver price is reaching new highs, as if it were reflecting a latent tension and a growing need for protection in the face of an increasingly administered financial system.

Italian lawmakers are pushing ahead with a controversial claim that the central bank’s $300 billion in gold reserves should be declared state property, despite fears it could violate European Union regulations.

What we are experiencing today is a cash crisis. The major bond crisis, the one that will call into question the sustainability of public debt, will undoubtedly come – but later. Gold, meanwhile, is navigating this landscape perfectly.

China's unreported gold purchases could be more than 10 times its official figures, as the country quietly tries to diversify away from the US dollar, say analysts, highlighting the increasingly opaque sources of demand behind bullion’s record-breaking rally.

Gold reacts not to rhetoric, but to substance. The Busan summit was supposed to symbolize economic reconciliation between the world's two largest powers. But behind the facade of diplomatic appeasement, reality remains that of a fragmented world, where strategic tensions persist and confidence in...

New powers and emerging countries have been encouraged to de-dollarize and buy gold, causing the value of the dollar to fall steadily. Furthermore, the United States, which constantly needs to find new buyers to finance its foreign debt, is facing increasing difficulties.

At first glance, everything seems under control: stocks are holding steady and the U.S. economy is resilient. And yet, something is going wrong in the global financial system. In recent days, the cost of very short-term cash – the SOFR rate – has risen sharply.

While the stock markets are driven by algorithms and bitcoin is kept afloat by synthetic liquidity, the silver market highlights the divide between paper and reality.

In this exclusive interview, Luke Gromen, one of the world’s foremost experts on bond and monetary markets, shares his perspectives on the current state of U.S. public debt, the role of the dollar and fiat currencies, and the surge of the gold price.

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.