Silver Rises Over 120% YTD 
Asia’s richest families are taking a hands-on approach to gold, running operations more like 19th-century trading houses than passive investors. Multi-family offices and dealers such as Cavendish Investment Corp., J. Rotbart & Co., and Goldstrom are sourcing gold from African mines, refining it in Hong Kong, and selling it to Asian and Chinese buyers for premiums. High geopolitical tensions, inflation fears, and a weaker US dollar are fueling demand, with wealthy investors in Hong Kong and mainland China sharply increasing their gold allocations. Beyond trading, some are leasing gold for steady returns, engaging in cross-market arbitrage, or using it as collateral. However, compliance challenges, supply risks, and soaring prices could slow the frenzy within the next year.
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Gold Is Down 14% in March. Inflation Isn’t Done Yet.
Gold dropped 14% in March — its worst month since 2008. Gas prices surged. Aluminum hit a two-year high. And the OECD now sees inflation running nearly twice the Fed’s forecast. Here’s what’s driving markets and what it means heading into Q2.
March 31, 2026
