Goldhub Research Investment Commentary Latest issue Investment Commentary Read the latest report Gold Market Commentary: Go with the flow September review: A surge in US Treasury yields and the US dollar alongside a drop in futures positions helped drive prices lower in September, despite impressive gold ETF inflows. Looking forward: UK gold ETFs delivered a stellar Q3. Fiscal concerns may be helping, but this looks less like the short-lived 2022 surge and more like a sustained shift in demand. 7 October, 2026 Weekly Markets Monitor - Out of the ordinary Geopolitical tensions and energy markets remained in focus last week, while investors also watched US data for clues on the Fed's policy path. A weaker-than-expected jobs report and stable PCE inflation reduced expectations of near-term rate hikes. Elsewhere, inflation accelerated in the Eurozone and Tokyo, China announced fresh growth-support measures and the Reserve Bank of Australia raised rates. 5 October, 2026 Gold in Pension Funds: Case studies Gold has received increased attention from some pension funds as they reassess portfolio construction against a backdrop of geopolitical tensions, inflation shocks and a less reliable equity-bond correlation. 1 October, 2026 Weekly Markets Monitor - Golden Week in China Geopolitics was in the spotlight last week. While the Trump-Xi summit resulted in a two-month extension of the US-China trade truce, the stalemate in the US-Iran conflict persisted, keeping energy prices elevated and inflation concerns in focus. Economic data presented a mixed picture across major economies: business activity strengthened in the US, Eurozone and India, but softened in Japan and the UK. Meanwhile, US labor markets continued to reflect strength. 28 September, 2026 Weekly Markets Monitor - All together now Central bank policy was the dominant theme last week, with the Fed and BoJ hiking and the BoE holding. At the same time, escalating tensions in the Middle East heightened concerns over oil supply disruptions, adding to inflationary pressures as inflation firmed in the Eurozone, UK, Japan and India. Meanwhile, the US economy continued to show resilience, led by strong retail sales and fewer jobless claims, while China's updates pointed to continued uneven growth, with export- and technology-led sectors remaining strong while domestic demand stayed weak. 21 September, 2026 APAC Quarterly: Japan's inflation problem Japan’s inflation remains sticky, with labour shortages and higher commodity prices likely to keep cost pressures elevated. Meanwhile, surging JGB yields are increasing local portfolio risks. Gold should remain relevant for local investors both as an inflation hedge and portfolio risk diversifier 17 September, 2026 Gold Market Commentary: Paved with good interventions A bumper month for gold, driven by ETF flows, futures flows and options activity helped cement August as the third strongest monthly return in a quarter century. Looking forward, central bank intervention may be on the cards, but absent a credible fiscal plan, it is likely to reinforce gold’s appeal 9 September, 2026 Unearthed: Debts, Deficits, Debasement and What It Means for Investors In this episode of Unearthed, hosts Joe Cavatoni and John Reade break down a volatile August for gold, with prices reaching highs of roughly $4,700 before correcting following hawkish comments from Kevin Warsh. 8 September, 2026 Prev Page 2 of 69 Next Latest research Looking for insight and analysis on gold? Our team of experts produce market-leading research and macroeconomic commentary on gold.
Gold Market Commentary: Go with the flow September review: A surge in US Treasury yields and the US dollar alongside a drop in futures positions helped drive prices lower in September, despite impressive gold ETF inflows. Looking forward: UK gold ETFs delivered a stellar Q3. Fiscal concerns may be helping, but this looks less like the short-lived 2022 surge and more like a sustained shift in demand. 7 October, 2026
Weekly Markets Monitor - Out of the ordinary Geopolitical tensions and energy markets remained in focus last week, while investors also watched US data for clues on the Fed's policy path. A weaker-than-expected jobs report and stable PCE inflation reduced expectations of near-term rate hikes. Elsewhere, inflation accelerated in the Eurozone and Tokyo, China announced fresh growth-support measures and the Reserve Bank of Australia raised rates. 5 October, 2026
Gold in Pension Funds: Case studies Gold has received increased attention from some pension funds as they reassess portfolio construction against a backdrop of geopolitical tensions, inflation shocks and a less reliable equity-bond correlation. 1 October, 2026
Weekly Markets Monitor - Golden Week in China Geopolitics was in the spotlight last week. While the Trump-Xi summit resulted in a two-month extension of the US-China trade truce, the stalemate in the US-Iran conflict persisted, keeping energy prices elevated and inflation concerns in focus. Economic data presented a mixed picture across major economies: business activity strengthened in the US, Eurozone and India, but softened in Japan and the UK. Meanwhile, US labor markets continued to reflect strength. 28 September, 2026
Weekly Markets Monitor - All together now Central bank policy was the dominant theme last week, with the Fed and BoJ hiking and the BoE holding. At the same time, escalating tensions in the Middle East heightened concerns over oil supply disruptions, adding to inflationary pressures as inflation firmed in the Eurozone, UK, Japan and India. Meanwhile, the US economy continued to show resilience, led by strong retail sales and fewer jobless claims, while China's updates pointed to continued uneven growth, with export- and technology-led sectors remaining strong while domestic demand stayed weak. 21 September, 2026
APAC Quarterly: Japan's inflation problem Japan’s inflation remains sticky, with labour shortages and higher commodity prices likely to keep cost pressures elevated. Meanwhile, surging JGB yields are increasing local portfolio risks. Gold should remain relevant for local investors both as an inflation hedge and portfolio risk diversifier 17 September, 2026
Gold Market Commentary: Paved with good interventions A bumper month for gold, driven by ETF flows, futures flows and options activity helped cement August as the third strongest monthly return in a quarter century. Looking forward, central bank intervention may be on the cards, but absent a credible fiscal plan, it is likely to reinforce gold’s appeal 9 September, 2026
Unearthed: Debts, Deficits, Debasement and What It Means for Investors In this episode of Unearthed, hosts Joe Cavatoni and John Reade break down a volatile August for gold, with prices reaching highs of roughly $4,700 before correcting following hawkish comments from Kevin Warsh. 8 September, 2026
Gold Market Commentary: Go with the flow
Weekly Markets Monitor - Out of the ordinary
Geopolitical tensions and energy markets remained in focus last week, while investors also watched US data for clues on the Fed's policy path. A weaker-than-expected jobs report and stable PCE inflation reduced expectations of near-term rate hikes. Elsewhere, inflation accelerated in the Eurozone and Tokyo, China announced fresh growth-support measures and the Reserve Bank of Australia raised rates.
Gold in Pension Funds: Case studies
Gold has received increased attention from some pension funds as they reassess portfolio construction against a backdrop of geopolitical tensions, inflation shocks and a less reliable equity-bond correlation.
Weekly Markets Monitor - Golden Week in China
Geopolitics was in the spotlight last week. While the Trump-Xi summit resulted in a two-month extension of the US-China trade truce, the stalemate in the US-Iran conflict persisted, keeping energy prices elevated and inflation concerns in focus. Economic data presented a mixed picture across major economies: business activity strengthened in the US, Eurozone and India, but softened in Japan and the UK. Meanwhile, US labor markets continued to reflect strength.
Weekly Markets Monitor - All together now
Central bank policy was the dominant theme last week, with the Fed and BoJ hiking and the BoE holding. At the same time, escalating tensions in the Middle East heightened concerns over oil supply disruptions, adding to inflationary pressures as inflation firmed in the Eurozone, UK, Japan and India. Meanwhile, the US economy continued to show resilience, led by strong retail sales and fewer jobless claims, while China's updates pointed to continued uneven growth, with export- and technology-led sectors remaining strong while domestic demand stayed weak.
APAC Quarterly: Japan's inflation problem
Japan’s inflation remains sticky, with labour shortages and higher commodity prices likely to keep cost pressures elevated. Meanwhile, surging JGB yields are increasing local portfolio risks. Gold should remain relevant for local investors both as an inflation hedge and portfolio risk diversifier
Gold Market Commentary: Paved with good interventions
A bumper month for gold, driven by ETF flows, futures flows and options activity helped cement August as the third strongest monthly return in a quarter century. Looking forward, central bank intervention may be on the cards, but absent a credible fiscal plan, it is likely to reinforce gold’s appeal
Unearthed: Debts, Deficits, Debasement and What It Means for Investors
In this episode of Unearthed, hosts Joe Cavatoni and John Reade break down a volatile August for gold, with prices reaching highs of roughly $4,700 before correcting following hawkish comments from Kevin Warsh.