Gold Bear Market Deepens as Rate Hike Odds Surge

Most commodity markets operate on a single dominant clock. Supply tightens, prices rise. Demand weakens, prices fall. Gold, by contrast, runs on at least two clocks simultaneously, and they are currently telling very di…

Read more →

The Next Commodity Shock May Begin in the Pacific

Forecasts point to a strong El Niño event at the end of 2026, raising fears over food supplies and prices. While we believe these fears are overstated at the global level, El Niño poses a more significant regional risk …

Read more →

What India’s Gold Discount Is Really Telling Us

In late June, the Reserve Bank of India (RBI) released the Financial Stability Report (FSR). According to the report, as of September 2025, India’s household debt stood at 45.5% of its gross domestic product (GDP). In J…

Read more →