Offer & Supply

Gold is the barometer of current events, and as such, it sends out a very strong signal. At a time when the global economy is reeling under the effects of financial instability, trade wars and geopolitical conflicts, the yellow metal is racking up record after record.

As gold makes yet another All Time High this week and now sets its sights on $3,000, silver remains in the low-$30s with investors left wondering just if and when the metal will start to move. This week, we'll take a look at a couple of ratio charts that will renew your enthusiasm for silver.

Until recently, physical gold used to flow mainly from refineries to the BRICS countries. Now, over the past two months, it's the US market that's acting as a veritable vacuum cleaner, absorbing an ever-increasing share of the physical gold market.

This week, we'll look at medium-term charts of Silver/Euro and Silver/FTSE.

Traditional portfolios, divided between equities and bonds, are less resilient to economic shocks than they used to be, as the two assets increasingly react in tandem, reducing their diversification and resilience. Another asset must therefore be included: physical gold.

This week, we'll change things up from our usual analysis on longer term charts and instead focus on the short term to see if there are any clues about where gold and silver are headed next.

The Dow/Gold ratio is currently trading near an historically significant level near the 1929 high. We can see that price has fallen through that level 3 times in history, and when it has, the drop has been dramatic with an 87% decline after 1929, a 92% decline from 1972-1980 and a 59% decline fro...

For the third year running, our forecasts for the price of gold have come true. While a sharp fall in the gold price seems unlikely in 2025, attention is now focused on the intensity of the trend.

The question of the timing of the next rise in the gold price remains uncertain: at what point will a market crash, worsening household fragility or increased pressure on the banking system prompt the authorities to make a decisive pivot in monetary policy to avoid a systemic recession?

This 32-minute discussion between Grant Williams and me covers my 55-year professional journey from banking in Switzerland, building and running a major UK FTSE 100 company (DIXONS), and setting up a major business in wealth preservation based on physical gold.     In the interview...