Why does the “Paper Gold” Price Track the Physical Gold Price? Part II

In Part I of this article, we looked at arbitrage between the physical metal market and the futures market. We saw that there are arbitrageurs who straddle the spread between these markets, who don’t care about price but about the difference between two prices. They seek to profit, not from a change to the gold price, but from the positive gold basis.

The basis is Future (bid) – Spot (ask)

If the basis is positive, they can buy metal and simultaneously sell it forward in the futures market (called “carrying“ the metal), and pocket about 0.6% annualized. This is far more than they could make in the Treasury market. In putting on this trade, they compress the spread because they are pushing up the spot price and pushing down the futures price.

This fact is what helps us understand what’s going on in the market. If we see a combination of (1) rising open interest (the number of futures contracts that are active), (2) a rising price, and (3) a rising basis, we know that the price is being driven by speculators bringing fresh money to the futures markets. How do we know this? Rising price means someone is buying. Rising basis means futures are going up faster than spot. Rising open interest means that new contracts are being issued (if this is unclear send us a question or comment using the form on the right side of the page and we will publish additional discussion of this point.)

Speculators in futures can bid up prices considerably. Because they are typically using leverage, they must eventually liquidate to take profits, or they can be forced to liquidate if the price falls due to stop orders and margin calls. Speculators can therefore cause great swings in the price above and below where the underlying buyers of the metal value it.

Everyone understands that the contract buyer wants the price to rise. They commonly assume that the seller of the contract wants the opposite. There is a certain appeal to this. A futures contract is zero-sum. Every dollar the price moves in either direction results in money transferred from one party to the other. There is a lot of discussion (and controversy) about this. Although there are speculators who short gold and silver hoping to profit from drops in the price (especially at certain times), I think it’s clear that most sellers of futures are arbitrageurs.

Our goal is to understand to make profitable trades by understanding the data. In brief, a falling basis indicates rising scarcity and a rising basis indicates declining scarcity. This one fact enables us to cut through the rumors that swirl around the Internet and focus on the reality in the market. Below are two graphs. One shows the basis for gold and silver (December contract). The other shows the total open interest for both gold and silver.

Gold and Silver Basis (December 2013 Contract)

Aggregate Open Interest for Gold and Silver

Together, they paint a picture of lots of speculative buying in silver and little speculative buying in gold. We don’t know precisely when—this is not a timing system—but we can say with high probability that silver will correct. Right now, an ounce of gold will buy about 52.5 ounces of silver. We predict that this ratio will rise to 60 or perhaps closer to 70.

Our firm only invests in physical gold and silver. At the present time, we are long physical gold with no exposure to silver. However, If we were trading for dollar gains using futures or ETF’s, we would do a direct arbitrage: long gold futures / short silver futures. In the stock market, we would go long GLD / short SLV.

Whenever we’re bearish, we always advise NEVER NAKED SHORT A MONETARY METAL. Postscript to this article.

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monetarymetals666 says:

February 5, 2013 at 23:09

Great information for my knowledge bag. Thanks.

I don’t see where the conclusion that the silver gold ration will widen follows from what you have??

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tyonker says:

February 6, 2013 at 01:01

I have been interested in the basis in futures since the natural gas collapse in 2008. The contango was very wide before the fall. It turned out that a hedge fund (Amaranth) had driven prices too high and the fund was eviscerated by JP Morgan, along with the gas price. The trouble that I can see with this strategy is alluded to in your paper. Timing is very important. Do you have a sense of how to read the basis for timing? What are normal parameters for contango in the silver market?
One more question, why is the basis not a part of analysis for all futures markets?

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samiam says:

February 6, 2013 at 03:24

The color coding is reversed between the two charts. Is this intentional or an error? It would be nice if the color codes are consistent, that is, gray for silver, yellow for gold. Thanks for the great site!

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dak9779 says:

February 6, 2013 at 20:16

How do arbitrageurs make money off this? From what I understand you can leverage commodities, like gold, in the futures market. But if you’re only selling a futures contract against existing physical metal, you can’t leverage the physical metal. Would you have to have a calendar spread on it with both positions being a future contract? Buy on leverage April ’13 and sell on leverage Dec ’13? .5% is extremely low interest.

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mossmoon says:

February 6, 2013 at 23:19

“In brief, a falling basis indicates rising scarcity and a rising basis indicates declining scarcity.”

The overwhelming majority of longs that “buy” real metal in this arbitrage never intend to take delivery, so to use this basis analysis as a metric to gauge the status of the physical markets is fundamentally flawed.

Under 1% of the daily volume at the Comex could possibly reference physical metal.

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flvp12@gmail.com says:

February 7, 2013 at 12:41

Keith, per your question, I would benefit from a more detailed explanation of the logic here.

I’m not suggesting that you are wrong. But, I fail to follow you logic.

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Keith Weiner says:

February 7, 2013 at 14:43

Thanks everyone for good comments. Let me try to address them briefly here, and if necessary write a follow-on piece.

tyonker: Timing is not something one can read from the basis itself. I discussed timing in the video (right hand side of this page) “The Coming Silver Correction”, looking at the extreme level of open interest which was last seen Apr 2010 right before the crash from $49 to $34. I agree that all commodities traders should look at the basis.

samiam: It was a mistake, we intended to make silver silver and gold gold :)

dak: you borrow money to buy physical and sell futures. How much equity vs how much borrowing determines your leverage. The world is moving towards the black hole of zero interest. 0.5% is low, but it’s not as low as Treasury bonds of the same duration!

mossmoon: I agree, the longs are mostly “naked” without means nor intent to take delivery. I discuss this in the video, the longs must inevitably sell. That does not invalidate the basis as a method of analysis.

flvp: I will write a short piece that presents the logic in more detail.

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1. mossmoon says:
  
  February 7, 2013 at 17:36
  
  “I discuss this in the video, the longs must inevitably sell.”
  
  This rise in the OI could be the addition of shorts, no?
  
  My other point is that if the basis spread relies on naked contracts then it is NOT an indicator of physical demand, as you say it is.
  
  It will be interesting to see if your call is correct.
  
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2. mossmoon says:
  
  February 7, 2013 at 18:16
  
  The silver basis could not have been rising in Aprill 2011, as silver was in full backwardation. But you are predicting a silver correction based on a rising basis (and a rising OI). I do not follow you.
  
  Do you have a silver basis chart for 2011?
  
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Keith Weiner says:

February 7, 2013 at 21:21

mossmoon: I will try to address your questions in the next piece.

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ike007 says:

February 12, 2013 at 09:10

You mention 1).. 2) and (3) a rising basis, we know that the price is being driven by speculators bringing …
Shouldn’t be narrowing basis since i buy spot gold and sell future short? Please advise!

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About Monetary Metals & Co.

Monetary Metals & Co.

Monetary Metals delivers a yield on gold, paid in gold, via its Gold Yield Marketplace™ platform, by offering gold-denominated financing to qualified companies in the precious metals industry. Unlike traditional gold companies that buy or sell gold for dollar gains, Monetary Metals unlocks the productivity of gold by matching investors who hold precious metals with qualified businesses—including mints, refiners, jewelry manufacturers, and miners—that use gold productively. Through Gold Leases and Gold Bonds, investors earn interest paid in physical ounces rather than fiat currency, allowing their gold holdings to compound over time with no storage fees.

Monetary Metals & Co.: Founders

Name, Role / Title, Description
Name	Role / Title	Description
Keith Weiner	PhD, CEO & Founder, Chairman of the Board	Keith Weiner is an economist who is a leading authority in the areas of gold, money, and credit and has made important contributions to monetary theory. He is also an entrepreneur who specializes in businesses that solve hard problems. Before Monetary Metals, he founded DiamondWare, a software company that developed 3D voice technology, sold to Nortel in 2008. He is the President of the Gold Standard Institute USA. He earned his PhD from the New Austrian School of Economics.

Monetary Metals & Co.: Team

Name, Role / Title, Department, Description
Name	Role / Title	Department	Description
Keith Weiner	PhD, CEO & Founder, Chairman of the Board	Leadership Team	Keith Weiner is an economist who is a leading authority in the areas of gold, money, and credit and has made important contributions to monetary theory. He is also an entrepreneur who specializes in businesses that solve hard problems. Before Monetary Metals, he founded DiamondWare, a software company that developed 3D voice technology, sold to Nortel in 2008. He is the President of the Gold Standard Institute USA. He earned his PhD from the New Austrian School of Economics.
Jeff Deist	Chief Risk Officer	Leadership Team	Jeff spent ten years as president of the Mises Institute, where he wrote hundreds of articles and delivered countless speeches on topics of monetary policy, gold, and central banking. Prior to that he worked on Capitol Hill as Chief of Staff for Congressman Ron Paul. He previously worked as an attorney in law firms and public accounting firms specializing in private equity, mergers & acquisitions, and tax. Jeff holds degrees in law and taxation.
John Flaherty	Chief Operating Officer	Leadership Team	Throughout his career, John has excelled in operational leadership roles in the fields of commercial construction management, real estate development and education. In his recent role as Director of Real Estate Development for BASIS Independent Schools, John was responsible for developing a national portfolio of elite private schools. He has a bachelor’s degree in civil engineering from Arizona State University and pursued graduate studies in economics at the University of Arizona.
Nathan Lucas	Chief Financial Officer	Leadership Team	Nathan Lucas has over 25 years as an accounting professional. After graduating with a Bachelor of Commerce (Major Accounting & Economics) from Monash University, he was admitted to the Institute of Chartered Accountant in Australia whilst working in the audit division of Ernst & Young. Nathan has worked in a variety of senior finance roles including guiding a start-up to IPO, extensive experience in ERP system implementation as well as being CEO and founder of an Accounting Software business.
Miranda Werstiuk	Chief Revenue Officer	Leadership Team	Miranda has over 30 years’ experience in finance for the resources sector. She has worked across the spectrum of transaction mechanisms (equity, debt, and alternative financing), with a focus on complex structuring for creative and mutually beneficial solutions. She has relationships with private and public corporate issuers, as well as high net worth individual and institutional investors. Miranda regularly contributes to conferences including PDAC, 121 Mining, Mining Indaba, Mines & Money London, IMARC, and CIM. She is Chair of the Program Advisory Group for planetGOLD, which seeks to eliminate mercury used by artisanal and small gold miners, as well as being a long-standing participant and committee member of WIM Toronto.
Dickson Buchanan, Jr	Chief Commercial Officer	Leadership Team	Prior to joining Monetary Metals, Dickson served as Senior Broker and Director of International Development at SchiffGold, where he helped a wide range of investors to obtain a strategic allocation into gold and silver both domestically and abroad. He received a Master‘s in Economics from King Juan Carlos University in Madrid, Spain where he studied under renowned Spanish economists Jesús Huerta de Soto and Juan Ramón Rallo.
KC Sparks	Chief Technology Officer	Leadership Team	A graduate of The Ira A. Fulton Schools of Engineering at ASU, KC is a value-driven technology expert with a proven record for developing and implementing robust software solutions that enhance profitability, efficiency, and redundancy. He has led initiatives resulting in SOC 2 compliance, optimized infrastructure and deployment workflows, and ensured optimal prioritization and execution of software strategies aligned with the intricate demands of the financial sector—all while fostering a culture of ownership, empowerment, and collaboration among his growing team. His evolution from Lead Software Engineer to Chief Technology Office reflects his commitment to excellence and deep understanding of software development.
Addison Quale	Vice President Relationship Management	Leadership Team	Addison concentrated in economics at Harvard University and came to embrace libertarian thought while studying for a Master of Divinity at Gordon-Conwell Theological Seminary. Addison worked as a precious metals specialist at SchiffGold, with additional work experience at Cambridge Associates, a Boston based investment consulting firm.
Mark Pey	Director of Strategic Relationships \| Dubai office	Leadership Team	Mark brings significant experience across financial services, technology, and digital physical gold management to Monetary Metals. His career background includes roles as Financial Services Industry Manager, Microsoft Corporation, where he ran Microsoft's financial services practice across Australia, New Zealand, and 'English speaking Asia' (Singapore and Hong Kong). He was also Vice President, J.P. Morgan American Century, where he ran institutional investment sales for some of their largest clients including Intel Corporation. Lockheed-Martin, and Bechtel Corporation.
Jeffrey Rhodes	Managing Director Business Development, Middle East and Asia	Leadership Team	A leading expert in the international precious metals market, Jeffrey is widely recognized as 'The Godfather of Gold Leasing.' For over 45 years, he served major financial institutions, including Credit Suisse, HSBC, Standard Bank, and StoneX. He founded Rhodes Precious Metals Consultancy DMCC in 2013, was appointed as Principal Consultant to Goldstrom Pte in 2022, and in 2025, he was named the CEO of Goldstrom Advisory DMCC. He's played a prominent role in the development of the Dubai Multi Commodity Centre, and he's been a member of Dubai’s Gold Advisory Group since its inception in 2003. He was a Chairman of the Public Affairs Committee of the LBMA, during which time he founded its popular trade magazine, The Alchemist.
Andrew Senior	Vice President Strategic Relationships	Leadership Team	Andrew is a creative entrepreneur with experience in investor engagement, commercial partnerships, and scalable growth strategies. With a career spanning decades and continents, he has founded and scaled several successful ventures, including Skuuudle, IT247.com, and Marsland Holdings—and raised over £65 million in capital across various funding rounds. He has led international expansion efforts across the US, China, and Russia, has advised C-level teams on fintech, pricing automation, & emerging tech, and drove strategic partnerships and investment initiatives at Glint Pay.
Hiren Chandaria	Managing Director, Middle East and Asia Operations	Leadership Team	Hiren Chandaria is a seasoned precious metals executive with over two decades of experience in gold investment, structured finance, and market development. He helped structure India’s first and largest gold savings fund, which won CNBC’s “Most Innovative Fund” award, while another fund he managed was ranked Bloomberg’s best-performing gold fund globally. A CFA Charterholder and Sloan Fellow of London Business School, Hiren leads Monetary Metals’ expansion across the Middle East and Asia.
Jim Brown	Director	Board of Directors	Jim lives in Jackson Hole and manages the Justice Brown Family Office. His finance career includes ten years as a stockbroker and 20 years as partner and portfolio manager at Brandes Investment Partners of San Diego. Prior to his finance career, he was an Air Force instructor pilot and an airline pilot. Jim is a Chartered Financial Analyst, holds an MBA from Harvard Business School and a BS in political science from the United States Air Force Academy.
Simon Guenzl	Director	Board of Directors	Simon Guenzl has over 30 years of experience in finance, including over 20 years in private-markets investing. His experience includes advising on mergers & acquisitions at several leading Wall Street investment banks, making venture-capital investments in start-ups, and investing in private-equity and venture-capital funds on both a primary and secondary basis. He holds a law degree from the University of Western Australia and an MBA from the Wharton School of Business.
Ronald P. Stöferle	Advisor	Board of Advisors	Ronnie is managing partner of Incrementum AG and responsible for Research and Portfolio Management. Upon graduation, he joined the Research department of Erste Group, where he published his first “In Gold We Trust” report in 2007. The report has become one of the benchmark publications on gold, money, and inflation. Since 2013, he has held the position as reader at scholarium in Vienna, and he also speaks at Wiener Börse Akademie. In 2014, he co-authored the book “Austrian School for Investors” and in 2019 “Die Nullzinsfalle” (The Zero Interest Rate Trap). He is a member of the board of Tudor Gold, a Canadian exploration company, and an advisor to Matterhorn Asset Management, a global leader in asset preservation in the form of physical gold stored outside the banking system.
Mark Valek	Advisor	Board of Advisors	Mark is fund manager and partner of Incrementum AG. His passion is to apply interdisciplinary thinking to investment. He is particularly fascinated with the Austrian School of Economics, monetary history, and the foreseeable paradigm shift in the monetary system. Prior to the establishment of Incrementum AG, he was with Raiffeisen Capital Management for ten years, most recently as fund manager in the area of inflation protection and alternative investments. He gained entrepreneurial experience as co-founder of Philoro Edelmetalle GmbH. Since 2013, he has held the position as reader at scholarium in Vienna, and he also speaks at Wiener Börse Akademie. In 2014, he co-authored the book “Austrian School for Investors”.
Brent Johnson	Advisor	Board of Advisors	A globally recognized macroeconomic professional with over 25 years of financial markets experience, Brent is the CEO of Santiago Capital. Previously he served as Managing Director at BakerAvenue, a $2.5 billion wealth management practice where he advised several of the firm’s largest clients. Prior to that, he worked almost a decade in the private client group at Credit Suisse. Brent is widely known for his “Dollar Milkshake Theory” and speaks frequently on macroeconomics, currencies, and precious metals.

Monetary Metals & Co.: Awards & Recognition

Award, Issuing Organization, Description
Award	Issuing Organization	Description
Inc. 5000 Fastest-Growing Private Companies - Rank No. 677 Overall	Inc. 5000	Monetary Metals named to the 2025 Inc. 5000 list, ranking No. 677 overall, top 15% of fastest-growing private companies in the U.S., No. 45 in financial services, and No. 19 among Arizona private companies.
Worldwide Finance Awards 2020 Winner	Acquisition International	Monetary Metals & Co. recognized as one of the winners of the 2020 Worldwide Finance Awards.
Bullion.Directory 2025 Gold Price Forecast Category - Silver Medal	bullion.directory	Monetary Metals awarded the Silver Medal in Bullion.Directorys 2025 Bullion Dealer of the Year public vote in the Gold Price Forecast category.
Bullion.Directory 2024 Dealer of the Year winner in News and Analysis	bullion.directory	Monetary Metals won bullion.directory's Dealer of the Year award in the News and Analysis category
Better Business Bureau A+ Rating	Better Business Bureau	Monetary Metals received an A+ rating from the Better Business Bureau
Trustpilot 4.8/5 star rating	Trustpilot	Monetary Metals achieved a 4.8/5 star rating on Trustpilot
Google Business 4.7/5 star rating	Google	Monetary Metals earned a 4.7/5 star rating from customers on Google Business

Monetary Metals & Co.: External Profiles

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Monetary Metals & Co. LinkedIn Profile	https://www.linkedin.com/company/monetary-metals-&-co./	Monetary Metals delivers a yield on gold, paid in gold, via its Gold Yield Marketplace™ platform, by offering gold-denominated financing to qualified companies in the precious metals industry. Through its gold leases and gold bonds, investors and institutions worldwide earn a yield on gold and silver every month, compounding their holdings over time with no storage fees. For more information, please visit monetary-metals.com. Founded in 2012 and headquartered in Scottsdale, Arizona, Monetary Metals is a different kind of gold company. Unlike others that simply buy or sell gold for dollar price appreciation, Monetary Metals unlocks the productivity of gold by matching investors who hold gold and silver with qualified precious metals businesses who need financing, including mints, refiners, jewelry manufacturers, miners, and recyclers. The businesses benefit from financing denominated in metal—which removes the need to hedge their price exposure—and owners of gold and silver can benefit from growing their total ounces of metal. The company offers two primary gold fixed income products: gold leases and gold bonds (gold bonds are for accredited investors only), which deliver income paid in physical ounces rather than dollars, eliminating storage fees and enabling investors to achieve compounding returns in ounces gained rather than mere dollar price appreciation. Since launching the Gold Yield Marketplace™ in 2016, the company has completed over 80 funded transactions across six continents. Monetary Metals has served thousands of clients—including family offices, high net worth individuals, and institutional investors— with the vision that everyone can save, earn and finance production in gold.
Monetary Metals & Co. X (Twitter) Profile	https://twitter.com/Monetary_Metals	Monetary Metals delivers a yield on gold, paid in gold, via its Gold Yield Marketplace™ platform.
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Monetary Metals & Co. UAE Website	https://www.monetary-metals.ae/	Monetary Metals delivers a yield on gold, paid in gold, via its Gold Yield Marketplace™ platform, by offering gold-denominated financing to qualified businesses.
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Monetary Metals Google Business KGMID	https://www.google.com/search?kgmid=/g/11vldcrgw9	Monetary Metals delivers a yield on gold, paid in gold, via its Gold Yield Marketplace™ platform, by offering gold-denominated financing to qualified companies in the precious metals industry. Through its gold leases and gold bonds, investors and institutions worldwide earn a yield on gold and silver every month, compounding their holdings over time with no storage fees.
Monetary Metals alternative name (Monetary Metals Corp) KGMID	https://www.google.com/search?kgmid=/g/11f01bkd18	The KGMID associated with Monetary Metals Corp, an alternative name for Monetary Metals & Co.
Monetary Metals & Co. Trustpilot profile	https://www.trustpilot.com/review/monetary-metals.com	Monetary Metals delivers a yield on gold, paid in gold, via its Gold Yield Marketplace™ platform, by offering gold-denominated financing to qualified businesses.
Monetary Metals & Co. Bloomberg company profile	https://www.bloomberg.com/profile/company/1627759D:US	Monetary Metals & Co. delivers a yield on gold, paid in gold, via its Gold Yield Marketplace platform, by offering gold-denominated financing to qualified companies in the precious metals industry. Through its gold leases and gold bonds, investors and institutions worldwide earn a yield on gold and silver every month, compounding overtime with no storage fees.
Monetary Metals & Co. bitscale.ai profile	https://bitscale.ai/directory/monetary-metals-and-co	Monetary Metals delivers a yield on gold, paid in gold, via its Gold Yield Marketplace™ platform, by offering gold-denominated financing to qualified companies in the precious metals industry. Through its gold leases and gold bonds, investors and institutions worldwide earn a yield on gold and silver every month, compounding their holdings over time with no storage fees. For more information, please visit monetary-metals.com. Founded in 2012 and headquartered in Scottsdale, Arizona, Monetary Metals is a different kind of gold company. Unlike others that simply buy or sell gold for dollar price appreciation, Monetary Metals unlocks the productivity of gold by matching investors who hold gold and silver with qualified precious metals businesses who need financing, including mints, refiners, jewelry manufacturers, miners, and recyclers. The businesses benefit from financing denominated in metal—which removes the need to hedge their price exposure—and owners of gold and silver can benefit from growing their total ounces of metal. The company offers two primary gold fixed income products: gold leases and gold bonds (gold bonds are for accredited investors only), which deliver income paid in physical ounces rather than dollars, eliminating storage fees and enabling investors to achieve compounding returns in ounces gained rather than mere dollar price appreciation. Since launching the Gold Yield Marketplace™ in 2016, the company has completed over 80 funded transactions across six continents. Monetary Metals has served thousands of clients—including family offices, high net worth individuals, and institutional investors— with the vision that everyone can save, earn and finance production in gold.
Monetary Metals & Co. PR Newswire profile	https://www.prnewswire.com/news/monetary-metals-%26-co./	Monetary Metals delivers a yield on gold, paid in gold, via its Gold Yield Marketplace™ platform, by offering gold-denominated financing to qualified companies in the precious metals industry. Through its gold leases and gold bonds, investors and institutions worldwide earn a yield on gold and silver every month, compounding their holdings over time with no storage fees.
Monetary Metals & Co. Rocket Reach Profile	https://rocketreach.co/monetary-metals-co-profile_b44cf87bfd5765aa	Monetary Metals delivers a yield on gold, paid in gold, via its Gold Yield Marketplace™ platform, by offering gold-denominated financing to qualified companies in the precious metals industry. Through its gold leases and gold bonds, investors and institutions worldwide earn a yield on gold and silver every month, compounding their holdings over time with no storage fees. For more information, please visit monetary-metals.com.
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Monetary Metals & Co. CB Insights profile	https://www.cbinsights.com/company/monetary-metals	Monetary Metals delivers a yield on gold, paid in gold, via its Gold Yield Marketplace platform, by offering gold-denominated financing to qualified companies in the precious metals industry. Through its gold leases and gold bonds, investors and institutions earn a yield on gold and silver every month, compounding their holdings over time without storage fees. It was founded in 2012 and is based in Scottsdale, Arizona.
Monetary Metals & Co. Bullion.Directory listing	https://bullion.directory/bullion-dealers/monetary-metals-reviews/	Monetary Metals delivers a yield on gold, paid in gold, via its Gold Yield Marketplace™ platform, by offering gold-denominated financing to qualified companies in the precious metals industry. Through its gold leases and gold bonds, investors and institutions worldwide earn a yield on gold and silver every month, compounding their holdings over time with no storage fees. For more information, please visit monetary-metals.com. Founded in 2012 and headquartered in Scottsdale, Arizona, Monetary Metals is a different kind of gold company. Unlike others that simply buy or sell gold for dollar price appreciation, Monetary Metals unlocks the productivity of gold by matching investors who hold gold and silver with qualified precious metals businesses who need financing, including mints, refiners, jewelry manufacturers, miners, and recyclers. The businesses benefit from financing denominated in metal – which removes the need to hedge their price exposure – and owners of gold and silver can benefit from growing their total ounces of metal. The company offers two primary gold fixed income products: gold leases and gold bonds (gold bonds are for accredited investors only), which deliver income paid in physical ounces rather than dollars, eliminating storage fees and enabling investors to achieve compounding returns in ounces gained rather than mere dollar price appreciation. Since launching the Gold Yield Marketplace™ in 2016, the company has completed over 80 funded transactions across six continents. Monetary Metals has served thousands of clients – including family offices, high net worth individuals, and institutional investors – with the vision that everyone can save, earn and finance production in gold.
Monetary Metals & Co. Instagram profile	https://www.instagram.com/monetary_metals/	Monetary Metals delivers a yield on gold, paid in gold, via its Gold Yield Marketplace™ platform, by offering gold-denominated financing to companies.
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True Gold Leasing - How it Works

Youtube, 3:45, 2025-10-09

Monetary Metals offers gold fixed-income products designed to grow your wealth in real, physical gold. In this video, we explain our Gold Leases—what they are, how they work, and the potential benefit...

JV Video: Monetary Metals offers yield on gold, paid in ounces

Youtube, 11:44, 2025-10-06

Bullion can pay interest – in metals, Monetary Metals‬ CEO Keith Weiner says. The company has established a program that leases clients’ gold to refiners and jewellers, typically returning 4% a year p...