Gold Price Drivers and the Macro Backdrop
Gold has no cash flow, so it is priced by opportunity cost. Everything here deals with real rates, inflation expectations, the dollar and why single-number forecasts fail.
6 articles · 7 newsletter editions · 2 courses
Articles
Online Gold Congress 2026: The Complete Guide to This Year's Gold Conference
Everything you need to know about the online gold conference on 10 October 2026 — the agenda, the six tracks, who attends a gold investment conference like this, how a virtual precious metals conference compares with a physical trade fair, and how to register free.
Gold Price Forecast 2026: A Framework, Not a Number
Most 2026 gold price forecasts are a single number with no method behind it. This is the full framework we use instead — the four drivers that move the price, the data series that track each one, the scenarios they imply, and the conditions that would prove the whole thing wrong.
The State of Gold: A 2026 Outlook
Our flagship annual report examining the forces shaping gold markets — from central bank policy shifts to emerging market demand — and what investors should prepare for in the year ahead.
Gold in 2026: What the Smart Money Is Watching
A comprehensive look at the macro forces driving gold prices and what institutional investors are positioning for.
Central Banks and the Gold Rush of the 2020s
Why nations are accumulating gold at record pace and what it means for the global monetary system.
How Gold Strategists Actually Think
The frameworks professional strategists use to judge where gold sits in a cycle — and what would change their minds.