Axel Merk

Gold Price Warning: The Fed May Be Setting Up the Next Breakout

Preview:Axel Merk argues that the current gold setup is being shaped less by simple inflation fears and more by Fed regime changes, rising real yields, fiscal excess, and geopolitics. He is constructive on gold over time, but he thinks the path can be volatile because rates, policy expectations, and central-bank behavior can shift the metal around in the near term.

SPECIAL REPORT: Was Kevin Warsh's Fed Debut A Hit? Or A Flop? | Axel Merk

Preview:Axel Merk argues Kevin Warsh’s Fed debut signaled a clear break from the Powell era: tighter, shorter communication; less forward guidance; and a stronger, more explicit emphasis on price stability. Merk thinks the market read this as hawkish, but in a constructive way—long yields stayed contained, while gold and silver sold off on the repricing of the near-term rate path.

Gold Is Exploding, BUT The Fed Could Kill The Rally | Axel Merk

Preview:Axel Merk argues gold’s spike is being driven by a temporary relief move in the Iran/oil shock, but the bigger backdrop is still about inflation, real rates, and Fed credibility. He thinks the immediate market reaction is more about the peace/MOU headline and oil forward curve than a clean long-term regime shift, while warning that a hawkish, more rules-based Fed under Kevin Warsh could pressure gold if it tightens financial conditions or signals more anti-inflation resolve.

Kevin Warsh Could Change Everything For Gold And Inflation ~ Axel Merk

Preview:Axel Merk argues that tariffs, war-related supply shocks, and policy reactions are pushing up real rates and making gold more volatile, but he still sees strong underlying demand from central banks and long-term investors. He thinks Kevin Warsh would matter more for Fed structure and communication than for immediate rate cuts, and he is skeptical that Warsh will quickly change the short-term rate path.

SPECIAL REPORT: Chaos At The Fed? Record Dissents In Powell's Last Meeting | Axel Merk

Preview:Axel Merk argues Powell’s final Fed appearance reinforces a major transition toward a more rules-based, less forward-guidance-driven Fed under Kevin Warsh. He also says the Fed is still holding steady because the economy looks stronger than a cut warrants, while the oil shock mainly matters through second-round inflation effects and policy responses.

Fed’s Next Move Revealed: When Is Rate Cut Coming? | Axel Merk

Preview:Axel Merk argues that gold remains frustrating but useful as a long-run hedge against monetary and policy mistakes, while the Fed is still more likely to react to supply shocks than to manage them cleanly. He also says Fed reform and a more rules-based framework matter more than the day-to-day drama around Powell and Trump.

SPECIAL REPORT: 'Deer In The Headlights' Fed Leaves Rates Unchanged | Axel Merk

Preview:Axel Merk argues the Fed’s decision to leave rates unchanged was the sensible response to uncertainty around the Iran conflict and oil shock. He sees the market as pricing the oil move as a temporary shock rather than a lasting regime change, says precious metals remain constructive on a longer horizon despite short-term volatility, and emphasizes that investors need a process, liquidity, and risk control more than predictions.

SPECIAL REPORT: Under-Fire Fed Keeps Interest Rates Flat | Axel Merk

Preview:Axel Merk said the Fed meeting was largely a non-event: rates were held steady, the statement turned slightly less worried on both inflation and employment, and Powell successfully avoided giving forward guidance. He sees the bigger market story not as a loss of confidence in central banks, but as growing concern about fiscal sustainability, deficit spending, tariffs, and geopolitical fragmentation — all of which he thinks are feeding the gold/silver bid. He also argued the next Fed chair matters because some candidates would keep the Fed closer to monetary policy basics, while others would expand the Fed's balance-sheet role and keep politics intertwined with policy.

Axel Merk Gold Above Four Thousand Two Hundred And The End Of Dollar Complacency

Preview:Axel Merk argues gold’s surge above $4,200 is being driven less by a simple inflation trade and more by a broader regime shift: dollar weaponization, fragmented global trade, higher geopolitical risk, and waning faith in bonds as a diversifier. He frames gold as a response to a world where reserves, sanctions, tariffs, and fiscal strain are changing incentives, while central banks and more mainstream investors add demand.

Reaction To Today's Federal Reserve Rate Cut + End of QT | Axel Merk

Preview:Adam Taggart hosts Axel Merk for a live reaction to the Fed’s 25 bps cut and the decision to end QT on Dec. 1. Merk argues the real signal was Powell’s warning that a December cut is far from certain, and he criticizes the Fed’s framework, saying liquidity still looks ample, not tight, despite some funding-market stress.

Axel Merk: Fed Preventing Recessions Creates Bigger Problems - Why Gold Recognizes This

Preview:Axel Merk, CIO of Merc Investments, discusses the macro case for gold and gold miners, arguing that persistent fiscal irresponsibility and Fed micromanagement are eroding faith in the dollar. He sees the shift of these concerns from fringe to mainstream as a durable driver of gold demand. On gold miners, he explains the sector's structure—majors vs. juniors vs. developers—and highlights that junior miners haven't yet had the explosive rally history suggests could follow. He emphasizes discipline in the sector (ounce-in-the-ground valued conservatively), the importance of management quality, and why active management matters given extreme dispersion of returns. He also touches silver's dual industrial/monetary nature, warns of correction risk after gold's run, and stresses having an investment process.

‘Greatest Miner Opportunity In A Generation’ is Here, Says Axel Merk

Preview:Axel Merk, CEO of Merk Investments ($2.9B AUM), makes a bull case for gold miners, calling this "the single greatest margin expansion opportunity for the sector in a generation." Gold at ~$3,750 and silver breaking to 14-year highs near $44 are driven by structural fiscal deterioration, Fed easing, and tariffs disrupting financial flows. He sees the junior miners as having the most upside leverage, though with extreme volatility. He discusses Fed dysfunction, argues Kevin Warsh is the reform candidate for next Fed chair, and warns that central bank intervention in Europe (ECB buying French bonds) prevents markets from disciplining profligate governments — all bullish for precious metals.

Is The Fed Behind The Curve? If So, By How Much? | Axel Merk

Preview:Axel Merk argues the Fed is increasingly reacting to labor-market weakness while downplaying inflation risk, which he thinks is the wrong reaction function. He says the September cut and updated dot plot are consistent with the Fed being behind the curve, and that the bigger issue is a shaky policy framework, political pressure, and stale data rather than just one meeting's decision.

Tariffs Push Inflation Higher NOW | Axel Merk

Preview:Axel Merk, founder of Merk Investments, discusses with host Kai Hoffmann the June CPI print (2.7% YoY headline, hotter than expected), arguing the Fed is paralyzed—caught between sticky inflation partly driven by tariffs and an economy that hasn't broken. He sees tariffs as a 10% baseline reality that inhibits financial flows and keeps long-term rates elevated. On Fed succession, Merk views Kevin Warsh as the candidate most likely to reform Fed decision-making while still being independent. He also comments on the DoD/Apple investments in MP Materials as a "light touch" form of industrial policy for strategic minerals.

SPECIAL REPORT: "Too Late" Powell & The "Wait-And- See" Fed Leave Rates Unchanged | Axel Merk

Preview:Axel Merk argues the Fed’s June decision to hold rates was mostly a prudent wait-and-see response to a messy policy environment, not a clean miss. He says tariffs, fiscal uncertainty, and volatile data make it hard to separate a one-time price shock from a more persistent inflation problem, so the Fed is hesitant to cut even as growth slows.

SPECIAL REPORT: Worried Federal Reserve Sees "Risks Rising" | Axel Merk

Preview:Axel Merk joins Adam Taggart to dissect the May 2025 Fed decision. The Fed held rates and QT unchanged, but Powell explicitly stated that "risks of higher unemployment and higher inflation have risen." Merk argues the Fed knows it doesn't know — an improvement over past overconfidence — and is now subordinate to Trump's tariff policy as the main market driver. The conversation covers the rules-vs-discretion debate, Kevin Warsh as likely next Fed chair, the structural shift in global financial plumbing driving gold higher, and why gold miners have lagged but may be poised for significant upside. Merk's baseline: Trump wants a 10% universal tariff baseline with everything above negotiable, and this reshapes capital flows, boosts gold, and ties the Fed's hands.

Gold at the Center of Chaos – Global System Breaking Down | Axel Merk

Preview:Axel Merk argues that tariffs are disrupting the U.S.-led global financial plumbing, weakening the dollar’s usual safe-haven role and pushing gold higher as a warning signal. He thinks the market is still in the early stages of reassessing reserve-currency trust, with central-bank buying, rising long-term inflation expectations, and financing pressure on U.S. deficits all reinforcing the move.

Axel Merk: No Safe Assets Left - Trump's Tariffs Risk Disrupting Financial Flows

Preview:Axel Merk argues that Trump's tariff policies risk disrupting global financial flows and the "plumbing" of the financial system, potentially eroding the US dollar's exorbitant privilege. He sees gold's rally and its broken correlation with real rates as warning signals. He warns stagflationary risks remain, that there are "no safe assets left," and that politically convenient responses to economic stress tend to be economically wrong. His positioning is heavy gold and gold miners, and he suggests investors focus on having a process rather than chasing narratives.

SPECIAL REPORT: An 'Uncertain' Fed Slows Quantitative Tightening | Axel Merk

Preview:Axel Merk and Adam Taggart dissect the March 2025 FOMC: the Fed held rates steady and slowed QT on Treasuries, but Merk argues the real story is hawkish inaction — the Fed is frozen by uncertainty over Trump's tariffs and executive actions. Merk sees the administration's attempt to rewire global financial plumbing as a systemic risk that could "break something," and views gold's rally as one of the few markets pricing that tail risk. He remains enthusiastic on gold and miners but warns that active management matters enormously in the mining space due to wide dispersion of returns.

Stocks, Gold To Soar? Trump's Sovereign Wealth Fund Is A Game Changer | Axel Merk

SPECIAL REPORT: Inflation Concerns Force The Fed To Make A "Hawkish Pause" | Axel Merk