In the wake of a credit outlook downgrade for New York City, Mayor Zohran Mamdani and state legislators have just declared war on the financial center’s vibrant gold bullion market. The global credit rating agency Moody’s reduced the Big Apple’s outlook from “stable” to “negative,” issuing a statement: The change in outlook to negative reflects New York City’s updated spending … Read More
€13 Billion Gold Flip by the Banque de France: Sold High in New York, Repurchased Low in Europe
Hidden in the Banque de France’s FY2025 report is a brilliant trade: Instead of physically shipping its 129 tonnes of gold (approximately 5% of total reserves) from the New York Fed vaults, the bank sold them in New York at peak gold prices, then repurchased the same quantity – but with higher purity – in Europe at lower prices. The … Read More
Precious Metals Market Update: 03/31/2026
Metals surge on Trump’s hint at Iran exit March 31, 2026 Precious metals posted their strongest session in weeks on Tuesday as a Wall Street Journal report that President Trump has privately expressed a willingness to end U.S. military operations against Iran—even without guaranteeing the reopening of the Strait of Hormuz—triggered a broad risk-on rally. Gold surged +3.47% to $4,678.98, … Read More
Can the Government Confiscate Your Gold?
For thousands of years, gold and silver have served this purpose. They remain the best long-term protection I know against the erosion of fiat currency value. But before purchasing gold, it is essential to remember that no investment is risk-free. In this essay, I will address the three real risks of owning gold: theft, government action, and price volatility. And … Read More
Goldman Raises Year-End Gold Forecast to $5,400 per Ounce
(Bloomberg) — Goldman Sachs Group Inc. has raised its year-end gold price forecast by more than 10%, reflecting growing private sector diversification into bullion in addition to already strong demand from central banks and exchange-traded funds. The bank increased its December 2026 price target to $5,400 per ounce, up from a previous forecast of $4,900, based on the assumption that … Read More
China Is Weaponizing Silver Using Export Restrictions
Silver now finds itself at the center of a geopolitical wrestling match over critical elements. In what is clearly an effort to control the market, China recently announced export controls on silver. This could exacerbate the global supply shortage, already creating a significant silver squeeze. According to the policy that took effect on January 1, only large state-authorized and approved … Read More