Insights & Briefings

Desk notes from the physical market.

Q3 2026 · Briefing 014

Central banks keep buying the dip that never comes

Official-sector accumulation has absorbed annual mine supply growth for a third consecutive year. What that means for physical premiums — and for buyers waiting for a better entry.

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Q3 2026 · Briefing 013

The widening gap between paper price and physical clearing

Loco spreads and refinery queues are telling a different story than the screen. We map where real metal actually clears.

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Q2 2026 · Briefing 012

Provenance is the new liquidity

In sovereign-adjacent mining regions, documented chain-of-custody now prices like a credit rating. Our framework for reading it.

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Q3 2026 · Corridor Guide

Where to buy gold in Dubai in 2026: the institutional version

Dubai handles a fifth of the world's gold trade and mines none of it. For institutions, the question is not where in Dubai to buy — it is how far up the supply chain your seller actually sits.

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Q3 2026 · Strategy Briefing

Gold sellers in Dubai: why vertical integration beats the destination premium

Most gold sellers in Dubai are tertiary brokers reselling imported metal. The elite tier controls the corridor back to East Africa — and prices accordingly.

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Q2 2026 · Technical Note

Doré payable rates explained: how the assay sets the real price

A doré bar is never worth spot times weight. The payable rate — what the refinery actually credits you — is where deals are won or quietly lost.

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Q2 2026 · Technical Note

Copper cathode pricing explained: LME Grade A from the Copperbelt

Cathode is priced off the LME, but the number that matters is the premium — and the premium is earned or lost in documentation, origin, and logistics.

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Q2 2026 · Technical Note

Coltan pricing explained: grade, documentation, and the compliance premium

Tantalite trades on Ta₂O₅ content — but in the Great Lakes corridors, the paperwork now prices like part of the grade.

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Desk notes from the physical market.

Central banks keep buying the dip that never comes

The widening gap between paper price and physical clearing

Provenance is the new liquidity

Where to buy gold in Dubai in 2026: the institutional version

Gold sellers in Dubai: why vertical integration beats the destination premium

Doré payable rates explained: how the assay sets the real price

Copper cathode pricing explained: LME Grade A from the Copperbelt

Coltan pricing explained: grade, documentation, and the compliance premium

Market intelligence, on the record.