Dedollarization

Chat logs introduced as evidence by prosecutors at the Chicago spoofing trial of two former precious-metals traders for Bank of America Corp.’s Merrill Lynch unit show one of them, Edward Bases, bragging about how easy it was to manipulate prices.

The sales of futures on the COMEX market, now seen almost every day, are colliding with a background trend for the purchasing of gold by the other central banks, which are starting to lose patience and want to cover themselves in relation to the risks of devaluation of their assets in terms of state...

In the short term, the paper gold market certainly harms the only genuine gold market which is physical. But artificial markets or instruments have never survived in history. Just look at the fact that every fiat currency in history which has failed. And so will paper gold. It is only a matter of ti...

The British government sought Monday to prevent Venezuelan leader Nicolás Maduro from gaining access to nearly $2 billion of gold held by the Bank of England as the U.K. Supreme Court started hearing a case that hinges on the question of who should be considered the Latin American nation’s president...

Like many fixed-income securities, the gold prices are completely detached from supply and demand. The mechanism for determining prices is distorted by ‘tools’ that enable the monetary authorities to alter the perception of their inflationary monetary policies.

As sympathetic as the Wall Street Silver movement is and as effective as it is in drying up the retail supply chain, it is the Basel III rules that will revolutionize the silver wholesale market and the global demand for photovoltaics, which is going to push prices upward at the end of 2021 and more...

There are two dimensions to the global de-dollarization that is taking place: a digital one, and a golden one. Let it be noted that China, as the primary initiator of CBDCs and the number one consumer and importer of gold in the world, has every chance of doing well out of this Great Game.

Russia’s sovereign wealth fund cuts US dollar reserves to zero while boosting the share of the euro, the Chinese yuan and gold, the country’s Finance Ministry announced on Tuesday.

The economic actors’ confidence regarding the central banks’ ability to correct this inflation, which they deem to be transitory, is certainly not open to question today. However, without rapid and specific action by these central banks (particularly on interest rates), this patience, which is also...

What was it that caused the sheer scale of this fall? Did the Fed raise interest rates brusquely and sharply, leading to a reaction like this on gold? The conclusions of the Fed’s meeting last week are far from dramatic, though. Nonetheless, they had the effect of an electric shock.