Plain-language market explainers
Metals, commodities and market investing, explained
PGM Blog is a plainspoken explainer for self-directed investors: what actually moves bullion, ore and the rates behind them, written to be read once and understood.
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The most recent pieces on this site, newest first.
What Is Purchasing Power Parity? A Simple Guide (2026)
What is purchasing power parity? Learn how the basket-of-goods method works, calculate the implied rate, and see where it breaks down in…
How to Hedge Currency Risk as an Investor: Simple Guide 2026
Learn how to hedge currency risk as an investor in using forwards, futures, options, diversified funds, and practical portfolio limits for your…
How Exchange Rates Affect Commodity Prices (October 2026)
Learn how exchange rates affect commodity prices in , from dollar strength and producer currencies to metals, oil, inflation and the signals…
What Is De-Dollarization? Meaning, Risks and Examples 2026
What is de-dollarization? Learn why countries cut US dollar dependence, how it works in practice, the risks involved, and the data points…
How Carry Trades Work in Currency Markets (October 2026)
How carry trades work in currency markets: see how rate differences create returns, what drives profits and losses, and the risks traders…
What Is the SWIFT Payment System? A 2026 Investor Guide
What is the SWIFT payment system? Learn how bank messaging, correspondent banking, fees, security and settlement work in plain English. Updated .
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Reading the metals market
Where metals writing usually loses the reader
No price targets
Nobody knows where spot lands next quarter, so you will not find a forecast here dressed up as analysis.
The spread is part of the price
Premiums, storage and the gap between buying and selling decide what an ounce really costs you, so they belong in the explanation and not in a footnote.
Rates before narratives
Metals and commodities move with real yields, currencies and central bank policy, so the mechanism comes first and the story second.
About
Who this is written for
PGM Blog is written for self-directed investors who would rather understand a market than be hurried through it, in plain language and without the urgency.
It starts with precious metals and commodities, and widens into the rates, currencies and mining equities that move them. More about PGM Blog
Spotted something that reads wrong? Get in touch — corrections are welcome.