Silver Rises Over 120% YTD 
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.
One Freeze Taught Every Government a Lesson. China Is Still Acting on It.
Rick Rule argues Beijing didn’t run a spreadsheet and conclude gold would outperform. It watched what happened to someone else’s reserves. The freeze of roughly $300 billion in Russian assets repriced a risk every reserve manager had treated as zero, and China has cut its Treasury holdings 52% since 2013.
