Inflation

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.

In just a few days, the global geopolitical and economic situation has suddenly become tense. The attack by the United States and Israel on Iran on February 28 caused a sharp rise in oil prices and reignited fears of inflation.

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?

In 2026, the digital euro is set to take a new turn. While the euro has steadily lost value in recent decades and European countries' budgets are sinking into the red, this digital euro would serve as a relay to maintain the stability of the European monetary system. At a price that no one can ye...

The rise in financial optimism comes at a time when the real economy is beginning to turn around. Historically, this type of dynamic precedes recessions. In this context, gold does not reflect a past crisis; it insures against a loss of future visibility.

Ray Dalio: "It seems to me indisputably true that gold is a money and it is the money that is least at risk of being devalued and/or confiscated. You should think of gold as being a fundamental money that you should own at least some of."

At first glance, everything seems under control: stocks are holding steady and the U.S. economy is resilient. And yet, something is going wrong in the global financial system. In recent days, the cost of very short-term cash – the SOFR rate – has risen sharply.

France's public debt is mainly held by foreign investors and this is precisely what worries senators, the French Ministry of Finance, and the government: a loss of confidence among international investors would cause interest rates to skyrocket immediately.

Ray Dalio said investors should allocate as much as 15% of their portfolios to gold even as the precious metal surged to an all-time high above $4,000 an ounce.

In this exclusive interview, Luke Gromen, one of the world’s foremost experts on bond and monetary markets, shares his perspectives on the current state of U.S. public debt, the role of the dollar and fiat currencies, and the surge of the gold price.