Key Takeaways The Federal Reserve’s June 17 FOMC dot plot included 18 projections, not 19. Chair Kevin Warsh chose not to submit a forecast — the first time a sitting Chair has withheld a dot since the tool was introduced in 2012. Nine of the 18 submitted dots indicate at least one rate hike in … Read more

Key Takeaways A savings account protects your cash balance. Gold preserves purchasing power. They serve different purposes. As of May 2026, the Consumer Price Index rose 4.2% year-over-year. The national average savings rate is 0.38%. That implies a real return near negative 3.8% for the average saver. High-yield savings accounts may offer around 4.20% APY. … Read more

Key Takeaways All the gold ever mined — about 220,000 tonnes — would fit in a cube roughly 22 meters on each side [World Gold Council, 2025]. Annual mined supply grows only about 1.8% per year and cannot be meaningfully accelerated. Gold’s zero nominal yield becomes attractive when real interest rates compress toward zero. Historical … Read more

A stronger-than-expected jobs report is pushing gold’s paper price lower. The connection is straightforward: robust hiring reinforces the Federal Reserve’s hawkish stance, higher interest rates increase the opportunity cost of holding a non-yielding asset like gold, and leveraged futures traders often sell quickly in response. That dynamic is already underway — gold is down about … Read more

Gold fell about 5% this week to $4,044 per ounce, marking its steepest weekly decline of 2026. That move, however, contrasts sharply with central bank behaviour this year. The World Gold Council’s Central Bank Gold Reserves Survey, published June 16, 2026 and covering 76 institutions, found that 89% of reserve managers expect their gold holdings … Read more

Key Takeaways Seigniorage is the government’s profit from issuing currency — effectively an inflation tax on every dollar you hold. A $100 bill costs only a few cents to produce; the government captures the difference as seigniorage. Under the classical gold standard (roughly 1880–1914), inflation was minimal. After 1971, when the dollar was no longer … Read more

Key Takeaways The gold-silver ratio closed Friday at 69.3:1 — its highest weekly close since the Iran conflict peak weeks. This was driven by aggressive Fed repricing after the June 17 FOMC, which pushed September rate-hike odds from roughly 29% to about 68% in a single week. Thursday’s PCE data (headline 0.4% MoM, core 0.3% … Read more

Strong GDP growth typically pushes gold prices lower because it increases the likelihood of interest-rate hikes from the Federal Reserve. Higher interest rates raise the opportunity cost of holding non-yielding assets such as gold. On June 25, 2026, three economic releases underscored that dynamic: the advance Q1 GDP estimate was revised to 2.1%, initial jobless … Read more

Key Takeaways Allocated physical gold has carried a 0% risk weight in bank capital rules since 1988, the same treatment as cash and top-rated government bonds. [LBMA, May 2025] Despite that capital treatment, gold is excluded from the High-Quality Liquid Asset (HQLA) list and cannot count toward the 30-day liquidity buffers required under Basel III. … Read more

Key Takeaways May PCE showed 4.1% headline inflation and 3.4% core inflation, matching consensus — a result that allowed gold to recover above $4,000 after a midweek low of $3,964. Gold’s rebound on a relatively hot inflation print illustrates the “priced in” dynamic: when markets already reflect the risk of rate hikes, an expected data … Read more