Explore in-depth gold and silver market analysis, timely market notes, and the key forces shaping precious metals
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One number from the latest COT data really stands out. As of August 25, swap dealers held 261,683 short gold contracts against just 16,656 longs. That puts them at roughly…
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2.95%. That’s where the yield on Japan’s 10-year government bond climbed today — the highest level since 1996. On its own, that number may not look dramatic. But in Japan,…
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Higher government bond yields are no longer just a U.S. story. We’re seeing similar pressure across several major economies at the same time. Investors are demanding higher returns to finance…
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Just a few hours before Friday’s sell-off, silver was trading above $70 an ounce. Then Kevin Warsh spoke at Jackson Hole. Warsh signaled that inflation remains a problem and that…
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This week, I’m watching one thing above all: whether Friday’s precious-metals selloff gets bought quickly. Gold and silver were hit hard after Warsh’s speech. The dollar strengthened, yields jumped, and…
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China’s official gold purchases are accelerating again. In July, the People’s Bank of China added 640,000 ounces of gold — nearly 20 tonnes to its reserves. It was the largest…
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$16 billion. That’s roughly how much higher bond yields are estimated to have already added to G7 government financing costs since the start of the U.S.-Iran conflict. And if yields…
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This is no longer just Japan’s problem. U.S. Treasury Secretary Scott Bessent warned that an uncontrolled decline in the yen could trigger forced unwinding of financial positions and destabilize global…
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The U.S. 30-year Treasury yield climbed as high as 5.327% — its highest level since 2007. That alone says a lot about the pressure building at the long end of…
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¥15.4 trillion. That’s how much Japan spent between July 30 and August 26 intervening in the currency market to support the yen — roughly $96.5 billion in less than a…
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Data-center operator NextDC reported that its Power Usage Effectiveness increased from 1.44 to 1.49. That may look like a small change, but with PUE, higher is worse. It means a…
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As of August 25, swap dealers held 261,683 short contracts against just 16,656 longs — roughly 245,000 contracts net short. But the size of the position itself isn’t the most…
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Just a few hours ago, silver was holding above $70. Now the picture looks completely different. Gold is down nearly 3%, while silver has fallen around 4%. The main trigger…
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The crisis around the Strait of Hormuz is no longer just a story about oil prices. Restricted tanker traffic is hitting the export revenues of some Gulf states at a…
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One number from Hochschild caught my attention: $31.80 per silver-equivalent ounce. That’s roughly where its AISC has climbed, compared with about $24.30 a year ago. That is a very sharp…
