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