Central banks

Does gold signal a return of inflation? Everything points to it. Gold has recently become the world’s most traded asset by volume, surpassing U.S. debt and major currencies.

The war in Iran is not only contributing to a resurgence of inflationary pressures across the Atlantic, thereby destabilizing financial markets, but is also accelerating the global shift away from the dollar.

The Bank of France (BdF) has quietly completed the repatriation of French gold still held in the United States, bringing to an end nearly a century of partial storage abroad. The operation covered 129 tonnes of precious metal — around 5% of the country’s total reserves — previously held at the Fe...

The price of gold is currently under pressure, not because its fundamentals are being called into question, but due to forced selling.

The conflict in Iran reminds us that the world has truly entered a new era. The recurrence of wars is accompanied by persistent inflationary risks and a profound redefinition of global balances. How might financial markets and gold prices react?

Major technology stocks are showing signs of running out of steam. Conversely, flows into gold are taking on an almost parabolic momentum. Central banks are continuing their purchases, and ETFs are setting new records.

Between wars, demonetization, exports, and resales, the actual amount of gold held by the French remains unknown. While the French have purchased nearly 240 tons of gold over the past fifteen years, their appetite for gold remains moderate compared to their neighbors. In this context, how can we...

The current period responds to historical dynamics that transcend it. We are at the end of a cycle, where phenomena similar to those we have already experienced are returning: record deficits, high debt, rising public spending, declining growth, unprecedented inequality, and, last but not least,...

Across the centuries, gold has functioned as currency, ornament, reserve, and metaphor—embodying the human desire for permanence in a world of change. In an age of crypto assets, artificial intelligence, and central bank digital currencies, its persistence raises a question both ancient and moder...

The evolution of the gold price in 2026 remains conditioned by the prospect of lower key interest rates in the United States, changes in liquidity and demand for investment, jewelry, and central banks.