Between the September edition of this register and this one, the thing that finally moved was the rate, not the targets. On 16 September the Federal Reserve raised its range to 3.75–4.00% — unanimously, the first increase since 2023, with…
A dollar exposure and a US rates exposure sit on most treasury reports as one line, because for long stretches they move as one. That link is a rolling correlation with a window, and it can hold at one end…
US payrolls rose 162,000 in August against a consensus near 55,000, and the same release revised July from a 23,000 loss to a 21,000 gain. Spot gold fell 2.2% to $4,376.04 on the print, and September-hike pricing — 63% on…
Central banks bought 289 tonnes of gold in the second quarter of 2026, up 74% year on year, in the quarter gold posted its steepest decline in a decade. Over the same period, 72% of family offices held no gold…
For capital held outside the banking system, the choice usually narrows to two: physical gold and crypto. Both are asked to do the same four things — hold value across a monetary cycle, let growth accrue to whoever holds the…
A bullion purchase funded from digital assets runs through two record systems built to answer different questions. The digital-asset side generates addresses, transaction hashes, platform account statements and screening outputs — records that trace movement precisely and say little about…
