Delivering Global Macro Investment Insights

DeSaque Macro Research

DeSaque Macro Research Limited was formed by Said DeSaque in April 2012 with the view to delivering global macro investment insights aimed at providing new ideas to clients.

Said DeSaque has over 26 years of experience working as a professional economist in financial services. Prior to establishing DeSaque Macro Research, Said held positions as Senior Economist at Robert W Baird and William Blair. He began his career as a graduate at PaineWebber in 1986, where he eventually became Head of the London Economics Department.

Said takes a very keen interest in international relations, along with their implications for economic development. His research interests include the economic transformation of China and its implications for global capital markets, particularly in the United States. He is a member of Chatham House in London.

The US economy and capital markets have historically been Said’s main focus of attention. He frequently presents his views to institutional investors in diverse geographic locations. In recent years, Said has also been carefully monitoring economic developments in Asia, particularly China and Japan.

Gold Market Stress Shifts Focus to the Current International Monetary System Structure

New Global Monetary System Will Evolve, as Sanctions and Current Conventions Worsen Supply Shortages

Global Economist, DeSaque Macro Research

Said Desaque

Global Economist

Cross Asset Strategy

Multiple Countries / Cross Asset Strategy

<ul>
<li>Theories to explain gold price movements have a long history.  Since the GFC, gold has increasingly become a proxy for rising risks of sovereign debt default and fiat money debasement. </li>
<li>Floating exchange rates made gold prices very sensitive to changes in US monetary conditions via a robust inverse relationship lasting until the GFC when new theories began to emerge.</li>
<li>There are numerous buyers augmenting gold demand, including central banks, retail investors and hedge funds.  Weaponisation of the US dollar has increased the attraction of gold in international reserve management. </li>
</ul>


Theories to explain gold price movements have a long history.  Since the GFC, gold has increasingly become a proxy for rising risks of sovereign debt default and fiat money debasement. 
Floating exchange rates made gold prices very sensitive to changes in US monetary conditions via a robust inverse relationship lasting until the GFC when new theories began to emerge.
There are numerous buyers augmenting gold demand, including central banks, retail investors and hedge funds.  Weaponisation of the US dollar has increased the attraction of gold in international reserve management. 


Multi-Faceted Factors Driving Gold Prices Higher in a Great Debasement and Geopolitical Trade