The Gold Lens · Long Reads
Long Reads
In-depth investigative and analytical deep dives, published monthly
The Fed Is Hiking Again. Gold Has Been Here Before.
The Fed has raised rates for the first time since 2023, and most of its officials expect to do it again this year. The textbook says that is bad for gold. The record of the last three hiking cycles is more useful: gold finished all three higher, and the hikes were never the part that mattered.
Gold and the Shadow of Fiscal Dominance
In three days in August the 30-year Treasury yield hit a 19-year high, the national debt passed $40 trillion and the Treasury doubled its buybacks of its own long bonds. Gold rose 13% that month. The United States has run this experiment before — and gold’s part in it then is instructive.
Gold’s First Real All-Time High Since 1980
In nominal terms gold has set records for two years. But in today’s dollars, January’s peak did something it had not managed in forty-four years: pass the real value of the 1980 top. A 28% correction has since tested that record — and it is still standing.
The $4,000 Gold Era: How a Reserve Asset Was Repriced
In barely two years gold has roughly doubled, overtaken first the euro and then US Treasuries in central-bank reserves, and re-entered the heart of the monetary conversation. This is the anatomy of a structural repricing — and what it would take to reverse it.
Gold Corridors: How Sanctions Are Reshaping Physical Gold Trade Routes
From Dubai to Shanghai, the geography of gold flows is being redrawn by geopolitical fault lines. An investigation into the new corridors of physical gold trade — and what they mean for the market's structure.
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