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Ripple Effect

Gold’s Biggest Buyer Isn’t Backing Down

Addison WigginAddison Wiggin

May 27, 2025 • 1 minute, 6 second read


central banksgold

Gold’s Biggest Buyer Isn’t Backing Down

Gold remains one of the most interesting stories in the financial market today.

While retail investors – more like traders – are hyperfocused on the gyrations of the stock market, central banks keep backing up the truck to buy the metal.

The latest data from the World Gold Council and Goldman Sachs suggests there’s far more buying ahead in 2025 – on top of a surge in buying in recent quarters after a slowdown in 2024.

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With this much big money moving into gold, any drop lower on short-term headline news – like President Trump delaying tariffs – could mean a reasonable buying opportunity for patient investors.

And with gold demand soaring, alternatives to the metal itself, such as mining stocks, may be the sleeper hit in this year’s volatile stock market.

~ Addison

P.S. We’ve recently released new research on today’s markets, and how President Trump is following through on a Great Reset of the U.S. economy. This first phase isn’t pretty – we call it the Great Fire. Click here for more details. It could mean a good reason why retail investors may finally give gold a push higher – potentially taking it to $4,000 this year before greater heights in the years ahead.

As always, your reader feedback is welcome: feedback@greyswanfraternity.com (We read all emails. Thanks in advance for your contribution.)


Copper’s Clear Signal

August 17, 2026 • Addison Wiggin

Copper and resources are sending us a cleaner market signal than AI stocks.

Channeling Ludwig von Mises, we observe this morning that price is not just a number; it’s information. Price reflects what buyers and sellers collectively believe: demand, scarcity, fear, speculation, disappointment, future expectations and available supply.

When prices rise, and inventories fall at the same time, the message is usually straightforward: buyers need the stuff, and there is not enough of it.

Copper’s Clear Signal
Market Crash Insurance Is Cheap

August 14, 2026 • Addison Wiggin

A low VIX does not predict disaster. It measures complacency. A serial skeptic will read it as the calm before a storm. We shook off that feeling this morning and opted to pursue an opportunity instead.

Here goes:

A VIX reading below 15 means the market is not pricing in much near-term trouble, even though there are obvious risks still sitting in the room: Iran, oil prices, memory chip speculation, circular financing, high valuations, epic high concentrations, spiking long-term interest rates, a regime change at the Fed, a meltdown in Japan and a historic deficit and rising national debt.

Market Crash Insurance Is Cheap
Beware: Financial Innovation In AI

August 13, 2026 • Addison Wiggin

Money is not flowing in a clean, straight line from outside investors to productive businesses. The firms at the top are investing in and buying from each other.

Microsoft and OpenAI are the easiest examples to follow.

Microsoft says OpenAI has contracted to purchase an additional $250 billion in Azure services, while Microsoft continues to account for $13 billion in funding commitments to OpenAI as an investment.

Beware: Financial Innovation In AI
Signs of a Late-Stage Bull Market

August 12, 2026 • Addison Wiggin

At this stage, it’s a stock picker’s market.

We expect space, robotics and some more visible tech startups to remain sources of speculation. After weakness in the first half of 2026, we’re also due for a strong rotation of capital into natural resources, precious metals, critical minerals and energy.

Signs of a Late-Stage Bull Market