Market analysis
Japan held rates. What changed for a gold buyer in Tokyo?
Tokyo’s rate decision, dissent and two yen quotations show which part of a gold buyer’s cost can be measured after the October meeting.
Gold Intelligence — 2 November 2026
A deeper reading of gold: markets, the holders of metal, practical decisions and the quality of the evidence.
By Gabriel Nicolaev — CyGuru. This collection is separate from the Daily Gold Brief. Publication dates refer to Dubai; each article identifies its own source periods.
Market analysis
3 ARTICLES
Market analysis
US output grew 3.4%. Private buyers tell a different part of the story
Read the 3.4% US GDP estimate alongside private final demand, inventory building and the simultaneous releases a gold analyst must account for.
Market analysis
Gold options priced a wider range into the weekend
The rise in Cboe’s gold ETF volatility index widened an indicative 30-day range. Here is what the move says about options, and what spot cannot confirm.
Official sector & flows
2 ARTICLES
Official sector & flows
Gold mines produced more. Where did the extra supply go?
Reconcile the World Gold Council’s second-quarter supply figures, then follow a gold bracelet through the transactions that enter a recycling estimate.
Official sector & flows
Who can exchange GLD shares for gold?
Trace an ordinary GLD sale and an institutional basket redemption, then use the trust’s June filing to reconcile gross activity with its net share change.
Practical education
3 ARTICLES
Practical education
Gold finished where it started. Why did the futures account need cash?
Work through two daily settlements on a 100-ounce gold futures contract and reconcile a cash debit, a matching credit and the risk between them.
Practical education
What happens to the extra buy orders in London’s gold auction?
A two-round example explains how the LBMA Gold Price can be set with a residual imbalance and why orders from successive rounds cannot be added together.
Practical education
A Dubai gold bar has a serial number. Which record should it match?
Use a fictional bar handover to trace a serial mismatch, distinguish retail records from London weight lists and document the limits of a provenance claim.
Research methods
2 ARTICLES
Research methods
One gold candle touched both exits. Which came first?
A worked 15-minute gold example shows how to reconstruct the order of two exits, retain ambiguous bars and calculate a range of possible results.
Research methods
Four alerts in one gold move. How many tests of a signal?
A worked example separates the number of alerts from the number of market episodes and shows why a busy gold session can dominate a research result.