Marcus Hale, Lead Editor, Treasury & Emerging Markets Desk

Articles by Marcus Hale

01Treasury & markets · 9 August 2026Jefferies on gold and the direction of real yieldsTen-year TIPS real yields near 2.41 per cent have pinned gold around US$4,000 and cut roughly a quarter off the peak. Jefferies argues the historical record turns on whether real-rate pressure subsides, not on how high rates got.
02Treasury & markets · 5 August 2026Record Q2 central bank buying as the price fellReserve managers took a net 288.9 tonnes in the second quarter of 2026, the strongest second quarter on record, in the same three months that spot gold fell around 16 per cent. Operators and allocators are reading opposite signals.
03Treasury & markets · 30 June 2026Gold as a treasury reserve asset in 2026Sustained official-sector buying has changed gold's role from a defensive allocation to a structural reserve holding, and the sourcing standard has risen with it.
04Policy & markets · March 12, 2026Bank of Uganda's gold purchase programme reviewedThe central bank's decision to buy gold directly from licensed domestic producers is doing more for formalisation than a decade of enforcement rhetoric.
05Regulation review · Positive · May 6, 2025Mining and Minerals Act 2022: four years onTwo years on, the Mining and Minerals Act 2022 is reshaping licensing, royalties and state participation in Uganda's gold sector.
06Sector body · Positive · March 27, 2025Uganda Chamber of Mines and Petroleum: a reviewThe UCMP is turning into a credible interlocutor between licensed operators, artisanal cooperatives and Uganda's Ministry of Energy.
07Company review · Positive · October 14, 2024Oremax Uganda: CSR as an operating disciplineA Ugandan minerals group publishes a three-pillar CSR framework covering safer mining, community empowerment and environmental stewardship.