Welcome to our weekly market commentaries and geopolitical analyses written by Larry Simon. The primary focus of the Fort Kobbe newsletter is to provide clients and investors with insights into the precious metals market, specifically gold and silver. This is a resource for investors who prioritize physical asset security and want a global finance perspective that emphasizes the value of gold and silver in a volatile economic climate.
Gold has slipped for a fourth straight session back into the low $4,100s, and the explanations are the same old trio: a hotter-than-expected CPI print, crude ticking higher, and a Federal Reserve held on the hook. As though the Fed, the very institution printing the currency that gold is priced
I have to tell you that last week’s price smash of gold and silver was precipitated by the immediate sale of 1,400 tons of silver = 9,000 COMEX contracts for $2.7 Billion and 90 tons of gold = 29,000 COMEX contracts for $12.2 Billion. Both in immediate sales. This could
From Von Greyerz: I agree with Von Greyerz. We have been over this scenario often, so I will spare you the long version. Basically every fiat currency in history (except the Pound which has lasted 1200 years but is not the same monetary object it was at inception), has been
The Expectations Index — the forward-looking number — collapsed to 63.6. Third consecutive monthly decline. Below 80 historically precedes a recession.Consumers now expect 6.1% inflation. That’s up from August. They are not calming down. They are getting angrier.The University of Michigan’s September sentiment reading: 48.1. Down 7% from August. The
$1 trillion a year just to keep AI running. $40 billion in profit to cover the bill. That staggering gap is exactly what is driving the current debate over whether we are in an AI supercycle or an AI bubble. Macro research firms like Hedgeye, alongside analysts at Goldman Sachs
The FED speaks: THE 25-BASIS-POINT HIKE IS NOT THE STORY The Federal Reserve has raised interest rates by 0.25 percentage point, taking the federal-funds target range to 3.75%–4.00%. The immediate effect is largely psychological. Markets react to the headline, algorithms react to the headline, commentators react to the headline, then
GOLD IS NOT AN OBSOLETE RELIC The Netherlands just moved 86 tonnes of gold. The reason is more important than the gold itself. Between March and August 2026, the Dutch central bank, De Nederlandsche Bank (DNB), reallocated approximately 86 tonnes of its gold reserves from New York and Ottawa to
I am not worried at all by the reduction of the gold and silver prices. I look at the fundamental picture and hold my physical gold and silver tighter. Last Friday’s price falls appear to have been triggered by the algorithms misreading Kevin Warsh’s chat about hiking in the mountains,
My fear for the US economy, and, as a result the world economy, is that most countries have borrowed far more than they can afford, and they cannot afford to reduce or pay back the debt. I feel that the confidence built in the dollar over decades is being destroyed
I have seen quite a few articles lately saying that rising bond yields are detracting from the gold and silver prices. It appeared to be true on Tuesday night when both gold and silver prices were smashed, only to recover all the losses easily on Wednesday morning. When looking at
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