“Understand the forces behind gold.
Let discipline guide every decision.”
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.
The November Bank Rate increase separates energy inflation from policy response. An original framework for evaluating gold without assuming inflation means gains.
US claims released on 5 November point in different directions. Understand the dates, revisions and limits before using the figures in a gold macro thesis.
The 5 November H.4.1 release shows why bank reserves and Fed asset growth can diverge. Read the liability mix before calling a liquidity move QE.
Why a recycled-gold label cannot replace supply-chain evidence: LBMA definitions, traceability, risk reviews and the limits of assurance explained.
Separate bullion prices, mining margins and equity valuation before interpreting a gold-miner ETF. A primary-source analysis with an explicit hypothetical example.
Understand what a gold Trading at Settlement execution actually locks in, what remains unknown, and how to reconcile the final price with its benchmark.
A gold ETC can trade in euros while remaining unhedged. Learn to separate listing currency, base currency and an explicit currency-hedging mechanism.
A practical gold-options example shows how changing delta alters a futures hedge, why gamma matters, and which risks remain after directional sensitivity is offset.
A practical research protocol for testing nearby gold strategy settings, locating fragile decisions and preserving an untouched evaluation period.
Measure the cost budget behind a gold backtest, keep the signal path fixed, and separate simple fee arithmetic from execution-dependent changes.
