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Markets, mints, and metals — independent reporting and analysis for gold and silver collectors and investors.

Does Gold Go Up in a Recession? Seven Downturns Compared

Ask a room of coin collectors whether gold goes up in a recession and most hands will rise. It’s one of the oldest beliefs in the hobby, and it has a decent record behind it. It also has a few ugly exceptions that tend to get left out of the retelling, and those exceptions are […]

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Daniel Reyes October 20, 2026

Macro Environment & Strategy

National Debt and Gold Prices: What the Record Shows

Ask a room full of metals buyers why they own gold and someone will point at the debt clock. The federal government crossed $40 trillion in total debt outstanding in late August 2026, and by September 25 the Treasury’s own Debt to the Penny series put it at $40.097 trillion: about $32.39 trillion held by […]

Daniel Reyes Oct 1, 2026

Macro Environment & Strategy

Gold Price Correction History: How Deep and How Often

Gold closed Friday, September 25, at $4,284.91 an ounce. That is a fine price by any standard that existed two years ago, and it is also roughly 23% below the $5,589.38 the metal touched intraday on January 28. Both facts are true at once, which is why the same question keeps arriving in two tones […]

Daniel Reyes Sep 27, 2026

Macro Environment & Strategy

Are We Running Out of Gold? What the Supply Numbers Show

Ask a room of gold owners where their metal came from and most will name a dealer, a mint, or a grandparent’s safe deposit box. Ask where it came from before that and the answers thin out quickly. It is a fair blind spot. The gold market talks about interest rates, the dollar, and central […]

Daniel Reyes Sep 23, 2026

Macro Environment & Strategy

What a Fed Rate Hike Means for Gold, and What History Shows

For three years the only question at a Federal Reserve meeting was how fast the committee would cut. On Wednesday afternoon the answer went the other direction. The FOMC raised its target range for the federal funds rate by a quarter point, to 3.75 percent to 4.00 percent, the first increase since July 2023, and […]

Daniel Reyes Sep 16, 2026

Macro Environment & Strategy

What Is the Gold-to-Silver Ratio, and Does It Matter?

Divide the price of gold by the price of silver and you get one number. On September 14, 2026, with gold trading near $4,288 an ounce and silver near $63, that number was about 68. It takes roughly 68 ounces of silver to buy a single ounce of gold. That is the entire calculation. No […]

Daniel Reyes Sep 14, 2026

Macro Environment & Strategy

Is There a Best Time of Year to Buy Gold?

Gold opened Friday, September 11, 2026 at $4,359.40 an ounce, down roughly 1.1% from the previous close and the lowest the metal had traded since August 6. Ask around for a reason and you will get several. The August CPI report was due, expected to show consumer prices up 3.4% from a year earlier. Futures […]

Daniel Reyes Sep 11, 2026

Macro Environment & Strategy

Quantitative Easing and Gold Prices: What Actually Happened

The Federal Reserve spent three and a half years shrinking its balance sheet, then quietly stopped. Runoff ended on December 1, 2025. Since early January 2026 the System Open Market Account has been buying Treasury bills again, close to $250 billion of them by the start of July, and total assets stood at $6.74 trillion […]

Daniel Reyes Sep 8, 2026

Macro Environment & Strategy

The Gold-to-Oil Ratio and the Dow-to-Gold Ratio, Explained

A single number, the price of gold, tells you less than it seems. Gold at roughly $4,450 an ounce in early September 2026 sounds like a lot, and it is a record in dollar terms, but a dollar is a moving yardstick. To judge whether metal is dear or cheap against the rest of the […]

Daniel Reyes Sep 3, 2026

Macro Environment & Strategy

Does Gold Go Up When the Fed Cuts Rates?

The textbook version is tidy. The Federal Reserve lowers interest rates, gold has no yield to compete against, so money rotates into the metal and the price climbs. People repeat that story because it is right often enough. The trouble is that the historical record is far messier than the textbook, and a saver who […]

Daniel Reyes Aug 30, 2026

Macro Environment & Strategy

How the Dollar Affects the Price of Gold

Ask a room of gold owners what moves the price, and someone will point at the dollar. It is one of the oldest rules of thumb in the metals world: when the greenback slips, gold tends to climb, and when the dollar firms up, gold often goes quiet. The single number most traders watch for […]

Daniel Reyes Aug 25, 2026

Macro Environment & Strategy

Real Interest Rates and Gold: What Actually Drives Price

Ask most people what moves the price of gold and the answer comes back fast: interest rates. When the Federal Reserve raises rates, gold is supposed to fall, because money in the bank suddenly pays you something and a gold coin sitting in a drawer still pays you nothing. That story is half right. The […]

Daniel Reyes Aug 15, 2026

Macro Environment & Strategy

How CPI Reports Move Gold, and Why Hot Inflation Can Hurt

Gold gets called an inflation hedge so often that the label feels like settled fact. Then a hot inflation report lands at 8:30 in the morning, the figure comes in above what economists penciled in, and gold sells off. Buyers who expected the reverse watch the price fall on the very news that was supposed […]

Daniel Reyes Aug 5, 2026

Macro Environment & Strategy

The Gold Was Real. The Promise Wasn’t.

Gold hit the highest price in history — and one of America's most-advertised gold dealers went bankrupt because of it. The metal was real. The promise wasn't.

Daniel Reyes Jul 13, 2026

Macro Environment & Strategy

Own the Gold, Not a Promise: The Rosland Lesson for Every Buyer

The metal did exactly what it was supposed to. The way people bought it is what failed them.

Daniel Reyes Jul 13, 2026

Macro Environment & Strategy

Rosland Capital Files for Bankruptcy: What the Court Record Shows About How a Household-Name Gold Dealer Collapsed

A company that sold "stability" on television for nearly two decades is now liquidating, with roughly 617 customers owed about $60 million — and its own filing lays out how it happened.

Daniel Reyes Jul 13, 2026

Macro Environment & Strategy

Gold and the Macro Machine: How Rates, Inflation, and the Dollar Set the Tone

Real yields, inflation expectations, and dollar strength form the three-legged macro stool that explains most of gold's big swings. Here is how each works, where today's regime breaks from the textbook, and how the picture differs for long-term holders versus tactical traders.

Jacob Barton Jun 16, 2026

Macro Environment & Strategy

The Official Bid: How Central Banks Shape the Gold Market

Central banks hold gold as a reserve asset, and their buying and selling moves on a horizon of years, not days. Understanding why they accumulate — and how to read the headlines when they do — is essential to making sense of the modern gold market.

Jacob Barton Jun 16, 2026

Macro Environment & Strategy

When the Hedge Gets Tested: Tail Risks in the Gold Market

Gold is widely held as protection against the unexpected — but the metal carries its own risk catalog, and it does not behave as a safe haven in every crisis. A framework for thinking about gold's tail events and its real role in risk management.

Jacob Barton Jun 16, 2026

Macro Environment & Strategy

The Slow Forces: How ESG, Technology, and Mining Supply Will Shape Gold for Decades

Beneath the daily price action sit structural currents — tightening environmental standards, harder-won community consent, and a wave of mining technology — that will quietly govern how much gold reaches the market, at what cost, and what that means for multi-decade holders.

Jacob Barton Jun 16, 2026

Macro Environment & Strategy

MEXICO BURNS, SILVER TIGHTENS: Cartel Violence Threatens Global Supply

MEXICO BURNS, SILVER TIGHTENS: Cartel Violence Threatens Global Supply Editor’s Note: When exchanges halt trading, governments start talking “strategic stockpiles,” and silver vaults mysteriously empty faster than they fill — it’s time to stop watching headlines and start reading between them. In this breakdown, Jacob Barton cuts through the noise on COMEX glitches, Mexico supply…

Jacob Barton Mar 2, 2026

Macro Environment & Strategy

The Hidden Cost of Inflation: Why Taxing Gold and Silver is Unfair

Inflation is one of the most pressing issues today, affecting almost every American. Since 2019, the cost of living has skyrocketed, squeezing the middle class and pushing many into financial hardship. This problem isn’t just a fluke of the economy; it’s a direct result of how our money system works, particularly the use of unbacked…

Jacob Barton May 31, 2024

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