The prospect of swelling sovereign bond issuance is also reviving its appeal as a hedge against the risk that governments will inflate away their debt burdens...

...rock beats paper!

In May, central bank bought a whopping 81 tonnes of gold, with China the largest identifiable buyer at 48 tonnes, which was the biggest monthly total in over a year.

...the question of “sound money” was never purely academic in nature but has always been of central importance for economic stability and social order...

...nothing has changed about why they buy.

"Gold’s break below key technical support of 4050 to the 4023 low in New York trading appeared driven primarily by stop-loss liquidation and positioning rather than a material deterioration in macro fundamentals" - UBS

The gold market is showing signs of capitulatory selling as the last shorter-term traders exit, paving the way for a more stable rally...

When your economy runs on oil exports that don’t get delivered or you can’t afford the soaring fuel prices, you cash in your insurance policy…gold...

“The one pillar which remains strong is central bank demand, and we expect this to be the case for some time to come...”

...the silver bull market still has years to run. Maybe even another decade...

China gold imports hit 163 tons last month, the highest since March 2024. In the first five months of 2026, China imported a total of 692 tons, up by about 76% from the same period last year. 

...gold price views remain structurally constructive but tactically cautious with near-term downside risk and medium-term upside risk...

Central banks remain very positive on gold, highlighting its significance amid a volatile geopolitical and economic environment...

In short, the fundamentals of history, economics and hence currency debasement confirm a clear pattern by desperately broke(n) nations to inflate their way out of debt at the expense of their currencies...

Since 2022, a slightly different group - China, Poland, India, Iraq, Czechia, and Qatar - has driven essentially all net purchases...

Central banks, a key pillar of the bullish case for gold, have returned to adding holdings in April after notable selling in March sent the price of the precious metal tumbling

...the writing is on the wall for the dollar's exorbitant privilege.

2026 is screaming “Uh-Oh” signals from nearly every sector and asset class with alarming yet eerily ignored clarity...

Looking at the world around us, from foggy geopolitics to gyrating financial headlines, one can’t help but think, as the Jedi knights would say, that there seems to be “a disturbance in the force.”

Turkey's official reserves cratered by $43.4 billion in March. Part of the decline reflected state intervention to offset portfolio outflows. The current-account deficit, meanwhile, widened to $9.7 billion in March from $7.3 billion in February as a result of soaring commodity prices.