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A gold bar resting as a paperweight on a dated research note, illustrating how a gold price target expires while the metal does not.

Gold Ran Past Wall Street’s Own Price Targets. Four Banks Disagree on What Happens Next.

Morgan Stanley's fourth-quarter number arrived in August, after the bank had already cut it. UBS is sitting on its December figure. Wells Fargo trimmed while Citi raised. And that $202 million bet against gold? CNBC corrected the story. Five moves, one pattern....
Silver Beat Gold in August. Almost Nobody Said So.

Silver Beat Gold in August. Almost Nobody Said So.

Every outlet ran the same line about gold's best month since September 1999. Measured close to close, silver rose 19.0% in August and gold 15.1%. Here is what the smaller metal's lead says about who is bidding for metal, and why a positive real yield stopped mattering....
A plain gold coin resting on a long grocery receipt, illustrating the July PCE inflation report's gap between what households paid and what they received.

Americans Spent More in July. They Got Nothing Extra for It.

The Bureau of Economic Analysis put July consumer spending up $36.3 billion, and up $1.3 billion once prices are stripped out. Core inflation held at 3.3%, a sixty-fifth straight month above target. Here is why gold slipped anyway....
A single gold coin on the first of three tiles marked SEP 15-16, OCT 27-28 and DEC 8-9, illustrating Fed rate hike odds across 2026's remaining FOMC meetings.

The Fed Has Two Hike Numbers Right Now. Almost Everyone Quotes the Wrong One.

Fed funds futures report later meetings as a running total, not as separate bets. That single quirk explains why two very different hike numbers are circulating this week, why neither one is wrong, and which of the two actually sets the cost of holding metal into year-end....
A Stablecoin Issuer Bought More Gold Last Year Than Any Central Bank

A Stablecoin Issuer Bought More Gold Last Year Than Any Central Bank

The Fed's flagship conference is about payment rails this year, not the level of rates. ECB data explains why that is a gold story, and why the most striking buyer of 2025 was not a central bank at all....
Dalio gold allocation strategy shown as a large stack of gold bars next to a small stack of coins, representing a 15% core gold position versus a smaller satellite asset

Two Investors Ran the Debt Math Separately. Both Landed on 15% Gold.

Ray Dalio's August 21 post cited an $11 trillion debt-service figure behind his call to hold 10-15% of a portfolio in gold. Days later, gold-app CEO David McAlvany independently reached a strikingly similar conclusion — and neither man sizes bitcoin anywhere close to gold....
Federal Reserve building at golden hour, symbolizing the gold silver Jackson Hole yields story as markets await the Fed's policy signal

Gold Nears $4,700, Silver Holds Above $69. Why Is Everyone Waiting on One Friday Speech?

Gold pushed past $4,600 and silver held near $69 as Treasury yields and the dollar fell into Friday's Warsh Jackson Hole speech. Here's the mechanism connecting five threads — and what a hawkish, dovish, or neutral surprise could mean for both metals....
Gold silver price today Iran sanctions: two trading monitors show gold prices trending upward and oil prices trending downward on the same day.

Gold Hits 3-Month High as Oil Falls Ahead of Bessent’s Iran Sanctions Announcement

Gold hit a fresh three-month high and silver turned positive today, both ahead of Treasury Secretary Bessent's 2 PM ET press conference unveiling new Iran sanctions. But oil is falling into the announcement, the opposite of what a "tougher sanctions" headline usually does to markets. Here's the mechanism actually driving today's move, and why it isn't really about Iran....
Gold's Speculative Crowd Hit a 60-Week High. Almost Nobody Bought.

Gold’s Speculative Crowd Hit a 60-Week High. Almost Nobody Bought.

Two metals rallied this week on the same headline. Underneath, the last CFTC positioning data, as of August 11, shows opposite structures. Gold's short book has thinned to 64% of normal. Silver's is still at 87%. Only one of these prices has a cushion under it....

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