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The quiet return of platinum.

Why the platinum-gold spread has widened to a decade high — and what a hydrogen economy will do about it. A ten-year read of the PGM market.

01 JUL 2026 · 12 MIN READ

— IN THIS ISSUE

— PREVIOUSLY, ON THE DESK

JUN

DAILY MEMO

6 min read

Multi-timeframe analysis on the yellow metal ahead of FOMC minutes.

JUN

FORTNIGHTLY LETTER

14 min read

Reading between the communique lines — a paragraph-by-paragraph analysis of the June meeting.

JUN

BROKER NOTE

8 min read

Three additions, one removal, spread benchmarks refreshed for June.

JUN

FORTNIGHTLY LETTER

11 min read

Why the physical silver market is quietly tightening — and what that means for the XAG price.

MAY

DAILY MEMO

7 min read

A hard look at the copper supercycle thesis, and where we push back.