Gold

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?

The gap between the euphoria in the equity markets and the first cracks emerging in certain areas of credit is striking. In this environment, gold plays the role of an insurance against a financial accident or a sudden reversal in liquidity.

This week we will look at both Gold/Euro and Silver/Euro and see what their similar chart structures might be telling us about the future direction of metals prices.

What we are experiencing today goes beyond mere technological euphoria or fears of sector disruption. The AI cycle reveals a paradox: as intelligence becomes increasingly dematerialized, markets are rediscovering the value of the tangible.

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 downturn is now global and simultaneous: US consumption is running out of steam, unemployment is rising in Europe, household and business confidence is collapsing in China, while defaults are increasing and bond flows betray a growing flight for safety.

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,...

The stress observed in cryptocurrencies and silver is not a mere epiphenomenon: it is the first sign of a market regime that is beginning to strain beneath the surface.

This week we'll review a few ratio charts that compare the Gold price to various measures of housing in the United States.