Precious Metals Economics

Macroeconomic rationale, supply and demand, paper vs. physical, and tax implications.

• Capital Gains Tax on Precious Metals: The 28% Rate

  How the IRS taxes physical precious metals as collectibles at a long-term rate capped at 28 percent, and why the IRA wrapper changes that math in a direct way.

  Updated April 19, 2026

• Precious Metals and Fiat Currency Devaluation

  How economists measure the loss of purchasing power in a fiat currency and why gold has a long record as a store of value through those cycles.

  Updated April 19, 2026

• Physical Bullion vs Gold ETFs: A Counterparty View

  A side-by-side look at physical metal and gold ETFs, with a focus on who holds what, which parties stand between the investor and the ounce, and the trade-offs of each path.

  Updated April 19, 2026

• Precious Metals in Portfolio Theory: Managing Volatility

  How modern portfolio theory frames risk through standard deviation, correlation, and drawdown, and where a small precious metals slice fits as a volatility dampener.

  Updated April 19, 2026

• Industrial Demand: Silver, Platinum, and Palladium

  How industrial uses drive a much larger share of silver, platinum, and palladium demand than they do for gold, and why that difference shapes their volatility.

  Updated April 19, 2026