Central banks

The New Gold Playbook reflects changing market dynamics driven by central bank actions, geopolitics, and the rising importance of noninflationary assets like gold and Bitcoin.

Money, as a medium of exchange, has existed throughout human history in many different forms. For centuries, there has been a constant tension between those who advocate hard, metallic money and those who defend credit money or debt money.

Inflation seems to be making a comeback in the United States, as shown by the core PPI figures, which indicate an increase in prices paid by manufacturers. The pulses observed on this indicator foreshadow an increase in prices paid by consumers, pointing to a further rise in the core CPI in the m...

In 2024, the US Federal Reserve is operating in a complex economic landscape, marked by persistent inflation, stagnant economic growth and several geopolitical conflicts that are reigniting international tensions.

Since the October 2023 gold low of just over $1,600 gold is up but is anyone buying? Well no, certainly none of the normal players. Gold Depositories, Gold Funds and Gold ETFs have lost just under 1,400 tonnes of their gold holdings in the last 2 years since May 2022.

The fact that the price of gold remains above its break line is a signal that the Fed will not be able to keep rates at this level for very long without jeopardizing the refinancing of US debt.

Global debt has reached an all-time high of over $300 trillion. If this amount explains so many things, it is above all the driving force behind a boundless ideology in a world of risks and stakes of all kinds.

China is trying to slow down the gold-buying craze, while economic pressures in Japan and the United States keep gold as an attractive asset despite high stock market valuations.

Gold’s rise to all-time highs above $2,400 an ounce this year has captivated global markets. China, the world’s biggest producer and consumer of the precious metal, is front and center of the extraordinary ascent.

The rise in 10-year US rates accentuates inflation and pressure on consumers, increasing the risk of a market correction.