AuAltinavcisiPrecious metals news and analysis

Latest dispatch

Oil & energy

Gold Buys Less Oil Than a Year Ago. It’s Still Twice the Norm.

How many barrels of oil can one ounce of gold buy? Compare today’s count with a year ago and with the long-run median, weigh the strongest case against the reading, and see why one number can serve an owner better than…

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Oil pumpjack on flat dry ground at golden hour under a deep blue sky

Next on the wire

Eight more dispatches on gold, silver, and the rates around them.

Wall calendar with one date circled in blue ink, illustrating the timing of the Social Security COLA vs inflationFed & yieldsSocial Security’s 3.6% Raise Arrives Late by Design
A small gold bar on a precision scale, showing how position size shapes the cost of a gold correction.GoldHow Gold’s Correction Impacted Portfolios
White-gloved vault worker inspecting a physical gold bullion bar on a metal table beside inventory records, illustrating central bank gold reserve management.Central banksCentral Bank Gold Buying: Why 39 Tonnes Matters
Gold bullion bar on a financial trading desk with declining stock market charts in the background, illustrating the AI stock selloff and market uncertainty.Fed & yieldsInvestors Turn to Treasuries as AI Stocks Slide
Gold bullion bars stacked on steel shelving inside a secure vault, illustrating London gold vault holdings in Q3 2026.GoldLondon Gold Vault Holdings Rose 3.78% in Q3. What Changed?
Stacked physical gold bullion bars on a dark financial desk beside a newspaper showing market charts.GoldGold Rebounds Above $4,130: What Changed for Owners?
A gold bullion bar beside a grocery receipt and car keys on a wooden table, symbolizing rising living costs and long-term wealth preservation.Fed & yieldsHow 3.7% Inflation Impacts Wealth Preservation
A heavy bank vault door with a multi-spoke locking wheel standing open in warm light — representing gold and silver held for the long term.SilverGold and Silver Dip on a Hot CPI Report

Spot and futures

Gold on the tape

Price moves, forecasts, and the flows that set the bullion bid.

Open Gold

Wall calendar with one date circled in blue ink, illustrating the timing of the Social Security COLA vs inflationFed & yieldsSocial Security’s 3.6% Raise Arrives Late by Design
A small gold bar on a precision scale, showing how position size shapes the cost of a gold correction.GoldHow Gold’s Correction Impacted Portfolios
White-gloved vault worker inspecting a physical gold bullion bar on a metal table beside inventory records, illustrating central bank gold reserve management.Central banksCentral Bank Gold Buying: Why 39 Tonnes Matters

Industrial and monetary

Silver beside the bid

Deficits, lease rates, and the days silver outruns gold.

Open Silver

Gold bullion bars stacked on steel shelving inside a secure vault, illustrating London gold vault holdings in Q3 2026.GoldLondon Gold Vault Holdings Rose 3.78% in Q3. What Changed?
A heavy bank vault door with a multi-spoke locking wheel standing open in warm light — representing gold and silver held for the long term.SilverGold and Silver Dip on a Hot CPI Report
Close-up of a hand pumping gas into a car at a fuel station at dusk, price sign glowing softly in the backgroundOil & energySqueezed at the Pump, Steady in the Vault

Rates and inflation

Yields that move bullion

Fed votes, real yields, and the jobs and inflation prints traders price into metal.

Open Fed & yields

Wall calendar with one date circled in blue ink, illustrating the timing of the Social Security COLA vs inflationFed & yieldsSocial Security’s 3.6% Raise Arrives Late by Design
A small gold bar on a precision scale, showing how position size shapes the cost of a gold correction.GoldHow Gold’s Correction Impacted Portfolios
Gold bullion bar on a financial trading desk with declining stock market charts in the background, illustrating the AI stock selloff and market uncertainty.Fed & yieldsInvestors Turn to Treasuries as AI Stocks Slide

Supply

Mines and vaults

Producer deals, ore grades, and the pits that feed the bullion market.

Open Mining

Gold bar in sharp focus against a blurred, illuminated world map, illustrating the jurisdictional risk behind the Gold Fields Northern Star takeover rejectionMiningGold Fields’ $27 Billion Bid Got Rejected. The Reason Is a Risk Bullion Doesn’t Carry.
Gold bar linked to five icons, including a border gate and digital token, illustrating Russia gold export controls and other institutional gold market moves.GoldGold’s Price Barely Moved. Five Institutions Repositioned Anyway.
Stacked gold bullion bars in soft directional light beside a blurred trading monitor showing mining stock tickers and a price chart, illustrating the divergence between gold mining stocks and physical gold bullion.MiningGold Fell 1.62% Today. Gold Miners Didn’t. Here’s the Math.

Latest dispatches

The front of the precious metals archive.

Wall calendar with one date circled in blue ink, illustrating the timing of the Social Security COLA vs inflationFed & yieldsSocial Security’s 3.6% Raise Arrives Late by Design
A small gold bar on a precision scale, showing how position size shapes the cost of a gold correction.GoldHow Gold’s Correction Impacted Portfolios
White-gloved vault worker inspecting a physical gold bullion bar on a metal table beside inventory records, illustrating central bank gold reserve management.Central banksCentral Bank Gold Buying: Why 39 Tonnes Matters
Gold bullion bar on a financial trading desk with declining stock market charts in the background, illustrating the AI stock selloff and market uncertainty.Fed & yieldsInvestors Turn to Treasuries as AI Stocks Slide
Gold bullion bars stacked on steel shelving inside a secure vault, illustrating London gold vault holdings in Q3 2026.GoldLondon Gold Vault Holdings Rose 3.78% in Q3. What Changed?
Stacked physical gold bullion bars on a dark financial desk beside a newspaper showing market charts.GoldGold Rebounds Above $4,130: What Changed for Owners?
A gold bullion bar beside a grocery receipt and car keys on a wooden table, symbolizing rising living costs and long-term wealth preservation.Fed & yieldsHow 3.7% Inflation Impacts Wealth Preservation
A heavy bank vault door with a multi-spoke locking wheel standing open in warm light — representing gold and silver held for the long term.SilverGold and Silver Dip on a Hot CPI Report
A gold bar in sharp focus on a dark wooden surface, with a blurred red-and-green candlestick stock chart and city skyline glowing softly in the background.GoldCurrency Swing Erases Gold’s Brief Dip
Stacked gold bars and silver coins in sharp focus against a blurred calendar and newspaper, reflecting today’s gold price amid dollar strength.GoldShort-Term Pressure Pushes Gold Down
Close-up of a hand pumping gas into a car at a fuel station at dusk, price sign glowing softly in the backgroundOil & energySqueezed at the Pump, Steady in the Vault
Close-up of a computer semiconductor chip beside a silver bullion coin featuring a Walking Liberty design, symbolizing silver's dual role as both a monetary metal and an industrial material used in AI chip manufacturing.SilverFed Governor Blames AI Chips for Inflation, Silver Falls