Alasdair Macleod: Why does gold fall as the world cracks up?

8:23a ET Wednesday, May 6, 2026 Dear Friend of GATA and Gold: In his financial newsletter yesterday, economist and monetary metals advocate Alasdair Macleod addressed a mystery recently haunting gold investors.  He begins: "Why goes the gold price fall when war risk increases, and rise when tension relieves? And if oil goes up, why is that bad for gold? This is the opposite of what should happen." ... Dispatch continues below ... ... ADVERTISEMENT ... Buy metals at GoldMoney and enjoy international storage GoldMoney was established in 2001 by James and Geoff Turk and is safeguarding more than $1.7 billion in metals and currencies. Buy gold, silver, platinum, and palladium from GoldMoney over the Internet and store them in vaults in Canada, Hong Kong, Singapore, Switzerland, and the United Kingdom, taking advantage of GoldMoney's low storage rates, among the most competitive in the industry. GoldMoney also offers delivery of 100-gram and 1-kilogram gold bars and 1-kilogram silver bars. To learn more, please visit:  http://www.goldmoney.com/?gmrefcode=gata By his kind permission yesterday's letter from Macleod, headlined "Gold: Differences of Opinion," is shared with you in Microsoft Word format here: https://www.gata.org/sites/default/files/Macleod-05-05-2026.doc And in PDF format here: https://www.gata.org/sites/default/files/Macleod-05-05-2026.pdf Macleod's newsletter targets economics, money, credit, geopolitics, and the monetary metals and is published every few days. A seven-day free trial subscription is available. Subscriptions are $10 per month or $100 per year. To subscribe, please visit his internet site at Substack here: https://alasdairmacleod.substack.com/ CHRIS POWELL, Secretary/Treasurer Gold Anti-Trust Action Committee Inc. [email protected] * * * Support GATA by purchasing Stuart Englert's "Rigged" "Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon: https://tinyurl.com/3xt6uw66 * * * Help keep GATA going: GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: http://www.gata.org To contribute to GATA, please visit: http://www.gata.org/node/16 Donations of $500 or more will entitle the donor to a 1-ounce silver round commemorating GATA's work: https://www.gata.org/sites/default/files/GATA-silver-round-front.png