Market Report: PMs appear to be breaking out

Gold and silver drifted this week, continuing last Friday’s end-of-week profit-taking, until the FOMC announced on Wednesday afternoon EST that there was to be no change in the Fed Funds Rate. This was the signal for gold to gain some $20 and silver 75 cents. These moves represented an apparent break-out from the last month’s […]

Dealing Desk: Precious Metals Spike on FOMC Statement

This week, we saw an increase in client activity. Many clients have been net selling the metals in order to take advantage of the price increases since last week. Simultaneously, many clients have been buying into gold possibly as a safe haven or ahead of the FOMC statement expecting their position to remain the same. […]

Brexit post-mortem

It is a month after Britain’s surprise vote to leave the EU.

A new Conservative Prime Minister and Chancellor are in place, both David Cameron and George Osborne having fallen on their swords. The third man in the losing triumvirate, Mark Carney, is still in office. Having taken a political stance in the pre-referendum debate, there can be little doubt the post-referendum fall in sterling was considerably greater than if he had kept on the side-lines.

This article takes to task the Treasury’s estimates of the effect of Brexit on the British economy and Mr Carney’s role in the affair, then assesses the actual consequences.
The Treasury’s economic weapons of mass destruction

One of the Treasury’s models predicted Brexit would cost each household £4,300 every year. There were at least two things wrong with this prediction. Firstly, it was presented as if it was a loss of net income, in other words the business profit or wages the average household would lose. The estimate was nothing of the sort, it was the Treasury’s estimate of the loss of annual GDP divided by the number of households in the event of Brexit.

Market Report: Technicians turning bearish

The consolidation of June’s price rises for gold and silver continues. Predictably, technical analysts are now talking prices down, expecting gold to test the 55-day moving average currently at $1280, and possibly the 200-day MA, which is at $1195. Last night (Thursday) gold closed at $1333 and silver at $19.80. We shall see. There is […]

The real message from asset inflation

The earliest signs are developing of hyperinflation, more correctly described as a collapse of the purchasing power of all the major government currencies. Central bankers are almost certainly unaware of this danger, partly because their chosen statistics fail to capture it, but mostly because conventional monetary economic theory is lacking in this regard. This article […]

Video: Goldmoney's Las Vegas Townhall Feat. George Gilder and Peter Schiff

Goldmoney’s Las Vegas Townhall Featuring George Gilder and Peter Schiff Goldmoney Co-founder, Josh Crumb and CEO, Darrell MacMullin host the Las Vegas Townhall featuring best-selling author, George Gilder, and Peter Schiff of Schiff Gold. Watch as they discuss the enablement of a global currency for today’s global commerce, debate centralized or decentralized options and the […]

Market Report: Precious metals consolidate

Following the Brexit shock, gold and silver have been consolidating the sharp rise that followed. This consolidation, which started after America’s Independence Day, has been in the form of a relatively shallow correction, as our introductory chart shows. This leaves gold up 27% against the US dollar, and silver up 47%. Silver has caught up […]

The pump and dump of UK residential property

Messrs Carney and Osborne are turning out to be a dangerous double-act for UK residential property investors. They have been using monetary and fiscal policies through a combination of directed bank lending, selectively increasing transaction taxes and by implementing other tax policies with a view to suppressing demand for residential property. If they think they […]

Using Goldmoney’s preloaded card

At Goldmoney, we have noticed that account-holders sell gold to preload their Goldmoney cards when gold rises. This makes sense. People are using their accounts as money, which is exactly what they should be doing. A Goldmoney payments account compliments a fiat currency account, and gives people options. Everyone who has a Goldmoney account also […]

Dealing Desk: Brexit Boosts Precious Metals’ Safe Haven Appeal

This week, we have seen an increase in client activity as the number of orders received increased after the Brexit referendum. Clients have been seen net selling gold and silver in order to take advantage of the profits from the extraordinary price increase post-Brexit. On the other hand, some clients have been buying into gold […]