Gold Economics

Monetary Metals® takes an unconventional approach to economics and precious metal market analysis. At the core of our thinking is the idea of incentives. Largely unnoticed by most people, incentives motivate people to act – be it the entrepreneur who sees an opportunity to profit from meeting the needs of others, or the arbitrageur who keeps markets aligned and efficient by profiting from divergences in prices.

We have several different content offerings for the interested reader.

Our Supply and Demand Report is a timely newsletter that chronicles the changing dynamics of the fundamental and speculative forces driving gold and silver prices. Our view is that analysis of price spreads can often reveal more about the supply and demand balance (or imbalance) in the market than looking at just the price movements themselves.

The Gold Exchange Report and Podcast, where we use timeless economic principles to untangle market and policy complexities so you can truly understand the present, and be better prepared for the future. This is where our unique approach to economics, and Keith’s groundbreaking research, shine through in practical ways for investors.

Our blog is great resource for short posts on contemporary economic and precious metal market issues.

For more detailed discussion of our unique economic views, such as the concept of yield purchasing power, the theory of interest and prices in paper currency, bitcoin, and others, check out our Research Page.

Lastly, our YouTube channel contains hundreds of interviews, discussions, and presentations given by Keith and others on everything you’ll find here in video form. Check it out below:

Here’s a sample of our most recently published work in each category:

Supply and Demand Reports

Monetary Metals Gold Outlook 2023 Gold Outlook 2023 Brief - This is a brief preview of our annual Gold Outlook Report. Every year we take an in-depth look at the market players, dynamics, fallacies, and drivers of markets, and finally, give our predictions for gold and silver prices over the coming year. Click here to download a free copy of the full Gold Outlook Report […]
Gold Supply and Demand How we think about gold and silver - When it comes to analyzing precious metals, the right methodology isn’t immediately obvious. Fundamental analysis in stocks and bonds is well understood. One can discount cash flows, examine the balance sheet, review the income statement, look at growth prospects and arrive at a fundamental value for the company. And there is a sophisticated ratings system […]

More Supply and Demand Reports

Gold Exchange Podcasts

Eric Brakey: The Free State Project Eric Brakey: The Free State Project - Eric Brakey joins the podcast to discuss the Free State Project, sound money, cryptocurrency, and strategies for advancing liberty. What is the best path to liberty? What makes the free state so free? Can decentralized alternatives defeat the old incumbents? Additional Resources Eric Brakey The Free State Project Edward Snowden Substack Passive Income in Gold […]
Northstar & Badcharts: Charting with Gold Northstar & Badcharts: Charting with Gold - Patrick Karim and Kevin Wadsworth of Northstarbadcharts.com join the podcast to talk about charting, gold as money, and answer a rapid-fire question round. What is technical analysis? Why measure prices in gold? Is following your gut better than following a system? Additional Resources NorthstarBadcharts.com Passive Income in Gold Earn a yield on gold, paid in […]

More Gold Exchange Podcast Episodes

Blog Posts

Reflections Reflections Over 2023 - I am writing this from home. But I spent five of the last six months of the year on the road. Most of that was overseas. In Reflections last year, I wrote about the gruelingness (yes, that’s a word coined as of right now) of it. So I won’t repeat that, but I’ll just say that companies […]
The Gold Yield Movement Advances The Gold Yield Movement Advances - I launched this business with a simple thesis. Interest will draw gold into the market; without interest, gold disappears into private hoards. The obvious reason is that people want a return. Without a return, they put their gold away and seek to avoid risk. A return provides an incentive to bring out the gold. Everyone […]

More Blog Posts

Research Articles

Monetary Metals Gold Outlook 2023 Gold Outlook 2023 Brief - This is a brief preview of our annual Gold Outlook Report. Every year we take an in-depth look at the market players, dynamics, fallacies, and drivers of markets, and finally, give our predictions for gold and silver prices over the coming year. Click here to download a free copy of the full Gold Outlook Report […]
Gold Supply and Demand How we think about gold and silver - When it comes to analyzing precious metals, the right methodology isn’t immediately obvious. Fundamental analysis in stocks and bonds is well understood. One can discount cash flows, examine the balance sheet, review the income statement, look at growth prospects and arrive at a fundamental value for the company. And there is a sophisticated ratings system […]

More Research Articles