Alasdair Macleod

Alasdair became a stockbroker in 1970 and a Member of the London Stock Exchange in 1974. His experience encompasses equity and bond markets, fund management, corporate finance and investment strategy. After 27 years in the City, Alasdair moved to Guernsey. He worked as a consultant at many offshore institutions and was an Executive Director at an offshore bank in Guernsey and Jersey.

Alasdair Macleod Articles

Last Monday there was a meeting in Washington hosted by the Official Monetary and Financial Institutions Forum (OMFIF) to discuss the future relationship (if any) of gold with the Special Drawing Rights (SDR). Also on the agenda was the...
There are two connected reasons usually cited for the current dollar strength: the US economy is performing better than all the others, leading towards relatively higher US dollar interest rates, and that this is triggering a scramble for...
There is only one way to value gold, and that is to quantify the expansion of the fiat currency in which it is priced. That is the sole purpose of the Fiat Money Quantity (FMQ), which since I last wrote about it five months ago has...
This week has been all about currencies, with a weak euro grabbing the headlines. At one point yesterday morning, the euro was 3% down from last Friday's close, hitting a 12-year low against the US dollar. The yen was also weak,...
This month the physical gold market will undergo radical change when the four London fixing banks hand over the twice-daily fix to the International Commodity Exchange's trading platform on 20th March.
In late November I wrote an article suggesting that it could be in Russia’s interest to put the rouble on a gold exchange standard. The salient points were the Russians could easily make it stick, inflation would be tamed, and importantly...
Despite the uncertainties ahead of the Greek general election, the European Central Bank (ECB) went ahead and announced quantitative easing (QE) of €60bn per month from March to at least September 2016.
2014 ended with two ominous developments: the strength of the US dollar and a collapse in key commodity prices. It is tempting to view both events as one, but the continuing fall in oil prices through December reveals they are sequential:...
Globally systemically important banks (G-SIBs in the language of the Financial Stability Board) are to be bailed-in if they fail, moving the cost from governments to the depositors, bondholders and shareholders.
Each commodity market has its own story to tell: oil prices are falling because OPEC can't agree production cuts, steel faces a glut from overcapacity, and even the price of maize has fallen, presumably because of good harvests.

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China is the world’s biggest gold producer with more than 355 tons annually. Australia is second.