Financial markets

As is often the case, the market today gives the illusion of control. But beneath the surface, the forces driving instability continue to build up.

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 oil market is entering a phase where volatility is no longer a mere hiccup but a direct consequence of its structure. Recent price movements do not reflect a linear improvement or deterioration in fundamentals, but rather a growing inability of prices to simultaneously reflect both physical r...

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?

This week, we'll take a broader look at three ratio charts that must go the way of the bulls if the metals are to see that next leg higher.

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

Last week, Gold/Euro had recently completed an historic measured move that was 20-years in the making. This week, we'll return to Gold and Silver in dollars but continue to analyze the recent blowoff moves and why a retrace/consolidation is to be expected before the next major leg higher.

While equity markets remain artificially propped up by low volatility, gold is consolidating. This phase does not reflect weakness, but rather a period of accumulation.

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 Strait of Hormuz, one of the world's main energy arteries, is partially paralyzed. Even so, the price of gold is showing little reaction to the extreme volatility of oil prices. It remains focused on a deeper dynamic within the financial system: that of credit.