Stay Informed
Insights on gold, market structure and wealth preservation, written by The Gold Congress editorial team. Read the full archive below before you subscribe — every past edition is published in full.
What You'll Receive
- Gold market analysis and commentary
- Interviews with congress speakers once the roster is confirmed
- Early access to Magazine articles
- Academy course announcements and previews
- Congress updates and speaker reveals
- Curated industry news and links to primary sources
The read
One long-form piece on a single question — a driver, a market-structure mechanism or a practical ownership decision — written to be useful a year later, not just this week.
The data behind it
Every series we cite is named and public, so you can pull it yourself: real yields, official-sector purchases, ETF tonnage, exchange premiums and inventories.
Falsification notes
Where we make a call, we state in advance what would prove us wrong. No unaudited predictions, no targets without a method.
Congress and Academy updates
Programme progress, confirmed speakers as contracts complete, new Academy lessons and Magazine long-reads — with no marketing padding.
Full Archive
Showing 14 of 14 editions
Where the Metal Actually Sits: Custody, Jurisdiction and the Paperwork That Decides Ownership
Most gold arguments end at the buy decision. The decisions that determine whether you still own the metal in twenty years are made afterwards: which vault, which jurisdiction, which legal title, and which documents your executor can find. This edition works through the custody chain from allocated bars to unallocated claims, and the failure modes at each link.
- Allocated, unallocated and pooled: what each one actually gives you
- Why the jurisdiction matters more than the vault's marketing
- The four documents that prove title — and the ones that do not
- Cross-border storage, reporting obligations and the succession problem
Who Sets the Gold Price Now: Central Banks, the Fed and the Slow Retreat From the Dollar
For two decades the gold price was largely a derivative of American real yields. Since 2022 a second author has been writing into the same sentence: the official sector. This edition sets out how central bank reserve accumulation, Federal Reserve policy and the gradual diversification away from dollar assets interact — and which of them actually moves the price.
- Why official-sector buying changed the price floor rather than the price trend
- How Federal Reserve real rates still set the ceiling on speculative demand
- What de-dollarisation does and does not mean for reserve managers
- The four series to watch, and the conditions that would falsify the argument
The Costs Nobody Quotes: Spread, Storage, Settlement and Tax
Two people can buy gold on the same morning at the same spot price and hold positions whose ten-year outcomes differ by double digits. The gap is not skill or timing — it is four costs that rarely appear in the sales conversation. This edition prices each of them.
- Why the dealer spread is the largest cost most buyers never calculate
- Storage and insurance: what a fair all-in basis-point figure looks like
- The settlement and delivery risks that only show up under stress
- A worked cost stack you can run on any quote you are given
The Four Drivers: How We Think About the Gold Price
Forecast season produces numbers without methods. This edition sets out the four drivers we actually track — real yields, official-sector demand, investment flows and physical demand — the free data series behind each, and the conditions that would prove the framework wrong.
- Why real yields, not inflation, are the mechanism that matters
- The two questions to ask before quoting any central bank tonnage figure
- A one-page monthly routine you can run for free
- Our falsification conditions, stated in advance
Paper Gold, Read Properly: ETF Flows, Futures Positioning and What They Do to the Price
ETF tonnage and futures positioning are the two most quoted and least understood series in this market. This edition explains what each one measures, how they transmit into the spot price, and the specific ways both are misread in commentary.
- Why ETF tonnage is a demand thermometer, not a demand driver
- How the futures market sets the price most of the time
- Reading positioning data without the conspiracy layer
- The signals that matter at turning points
Why an Online Congress, and What We Have Learned Building One
A gold congress with no venue, no flights and no exhibition hall is a deliberate design choice, not a compromise. This edition explains the reasoning, the trade-offs we accept, and how the format changes what a programme can be.
- What the online format buys: reach, record, and independence
- The three things a physical event does better, stated plainly
- How a single day is scheduled across six time zones
- What free admission does and does not cost
Why Central Bank Buying Became Structural
Sovereign gold demand stopped being an outlier story somewhere around 2022. We set out what the published reserve data actually shows, why reserve managers behave differently from every other buyer, and what that does — and does not — tell you about price.
- What the World Gold Council data actually reports
- Why reserve managers are price-insensitive
- How to read a reserve statistic without over-reading it
Tokenised Gold: A Diligence Checklist, Not a Verdict
Allocated gold tokens are a real product category with real regulatory scaffolding in Europe. They also relocate counterparty risk rather than removing it. Here is the checklist we would run before touching one.
- What a well-structured token actually is
- What MiCA changed in Europe
- The seven questions to ask an issuer
Real Rates: The One Chart That Explains Most of Gold
If you follow a single macro series for gold, follow the ten-year TIPS real yield. This edition explains the mechanism, its limits, and the three occasions the relationship broke.
- Why the opportunity-cost mechanism works
- Where to find the series for free
- The three periods when it failed
Generational Allocation: The Four Decisions That Outlive You
Sizing, form, jurisdiction, succession. A long-horizon gold position is an architectural decision, and the failure modes are administrative rather than financial.
- Why the sizing question is really a risk question
- Legal-system diversity beats geographic diversity
- The succession failure nobody plans for
How the 2026 Programme Is Curated
The selection rule, the five tracks, why we do not sell stage time, and when names are published. An unusually transparent look at how a programme gets built.
- One selection rule, applied strictly
- Why keynote slots are not for sale
- What a session has to earn to keep its hour
- How and when speakers are announced
The Plumbing: London, COMEX, Shanghai and Why It Matters
Gold has one price and at least three markets, each with its own settlement conventions, participants and stress signatures. Understanding the plumbing explains most of the price behaviour that otherwise looks irrational.
- What actually trades in London, and how it settles
- Why COMEX futures set the headlines but not the metal
- Reading Shanghai and Mumbai premiums as demand signals
- The three dislocations that tell you something is wrong
Mine Supply Is Not the Story People Think It Is
Peak gold headlines recur every cycle and rarely survive the arithmetic. What the supply side actually determines is the floor under the cost curve, the length of the response lag, and how quickly recycling caps a spike.
- Why two per cent annual supply growth limits mine news
- All-in sustaining costs as a soft floor, not a hard one
- The ten-year gap between a discovery and an ounce
- Recycling: the elastic supply that ends most spikes
The Diversifier Claim, Tested
Gold is sold as a diversifier and a crisis hedge. The historical record supports a narrower claim than the marketing does — and the distinction changes how a position should be sized and rebalanced.
- Why average correlation is the least useful statistic
- The crisis pattern: liquidity first, then re-rating
- What gold has and has not protected against
- Rebalancing rules that make the diversifier claim real
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