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

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.
The hypothesis that follows, if carried through, is certain to have a significant effect on gold and the relationship between gold and all government-issued currencies.
Gold has had a volatile week. It rose from $1,147 last Friday afternoon to a high of $1,205 on Tuesday. On Wednesday the price moved between down $25 on the latest opinion poll on the Swiss referendum, then recovered to $23 before falling...
China first delegated the management of gold policy to the Peoples Bank by regulations in 1983. This development was central to China's emergence as a free-market economy following the post-Mao reforms in 1979/82. At that time the west was...
Trading in precious metals was quiet until Wednesday morning, when prices began to soften. When the FOMC meeting released its policy statement at 2.00pm EST, gold and silver responded by falling heavily, with gold breaching the $1200 level...
For gold and silver it has been a week of two halves: first prices rallied to a peak on Tuesday, then declined to show net losses for the week on Wednesday for silver and Thursday for gold. Broadly these precious metals reflected first...
Recent evidence points increasingly towards global economic contraction. Parts of the Eurozone are in great difficulty, and only last weekend S&P the rating agency warned that Greece will default on its debts "at some point in the next...

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Palladium, platinum and silver are the most common substitutes for gold that closely retain its desired properties.