Macro
The reserve currency repricing
8 min
§ 01
The System
Foundations
Color, type, and rhythm. Restraint is the brand — gold appears only where emphasis is earned, and the editorial rule keeps composition disciplined.
Color Tokens
Background
--background
#FFFFFF
Primary page surface
Off-white
--surface
#FAF8F3
Editorial sections, mastheads
Surface 2
--surface-2
#F1ECDE
Inset blocks, callouts
Ink
--ink
#2D3047
Primary type & ink charts
Slate
--slate
#62657A
Secondary type, captions
Warm Gray
--warm-gray
#B0B2BD
Tertiary type, dividers
Rule
--rule
#CFD1DA
Editorial rules, hairlines
Border
--border
#E2E3E9
Subtle borders
Gold
--gold
#FFC51F
Emphasis only — key numbers, CTA
Gold Soft
--gold-soft
#FBE7A6
Chart fills, hover wash
Gold Deep
--gold-deep
#B07F1C
Hover, active gold states
Teal
--positive
#38726C
Gains, upward delta
Burnt Orange
--negative
#D65108
Losses, downward delta
Burnt Orange Accent
--magenta
#D65108
Tertiary editorial accent
Type Scale
Display
96 / 88px
Young Serif Regular
Strategic
Editorial H1
60 / 52px
Young Serif Regular
The Macro Pivot
Editorial H2
40 / 36px
Young Serif Regular
Capital Reallocation
Section Title
24 / 22px
Display Medium
Institutional Holdings
Body Lead
18 / 16px
Sans Regular
Central banks accumulated 1,037 tonnes of gold in 2024 — the third consecutive year above 1,000 tonnes.
Body
15 / 14px
Sans Regular
Reserve diversification continues to dominate central-bank flows across emerging markets.
Caption
12 / 11px
Display Medium
Source: World Gold Council, Q4 2024.
Disclosure
11 / 10px
Sans Regular
Past performance is not indicative of future results. See full disclosures.
12-Column Editorial Grid
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Max width 1400pxGutter 24px · Margin 48px
§ 02
In Context
Typography
Young Serif for editorial moments, Inter for body, JetBrains Mono for tabular numbers. The pairing carries the publication's voice — measured, declarative, institutional.
Hero Headline
The reserve currency is quietly being repriced.
Editorial Headline + Body
Macro / Reserve Assets
Central banks bought 1,037 tonnes of gold in 2024.
For the third consecutive year, sovereign buyers absorbed more than a thousand tonnes of physical gold — a pace not seen since the dissolution of the Bretton Woods system. The implications, we argue, extend well beyond commodity markets and into the architecture of global trade settlement itself.
Past performance is not indicative of future results. This publication does not constitute investment advice. See full disclosures at the end of this document.
“When sovereigns prefer metal to paper, the conversation has already moved past inflation.”
§ 04
Containers
Cards & Modules
Six card archetypes covering research, stat reporting, premium offers, and editorial. Crisp edges, no gradient shadows.
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Institutional Stat
$2,841
Gold spot+24.6% YTD
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Sequence · Q4 2025
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Special Report · 84 pp.
The Strategic Resource Index: 2025 Edition
84
Pages
126
Charts
412
Sources
Market Insight
Copper inventories at LME have fallen 71% in 18 months.
Stockpile
87.4kt
18mo Δ
-71%
§ 05
Data Visualization
Charts & Statistics
Thin strokes, minimal gridlines, tabular numerics. Gold appears only on the metric being emphasized.
KPI Grid
$0B
AUM Under Coverage+12.4%
0
Institutional Members+8.1%
0.0%
Avg. Position Return+540bps
0
Research Notes Published+22.0%
Gold spot price, 2024
+39.1%
Macro Fund vs. Benchmark, 6-year cumulative
- Macro Fund
- S&P 500
- Cash
+91.3%
Top institutional holders, % outstanding
Vanguard Group
8.4%
BlackRock Inc.
7.1%
State Street
4.3%
Norges Bank
2.8%
Berkshire Hathaway
2.1%
Fidelity
1.7%
Annual gold supply vs. demand (tonnes)
- Supply (tonnes)
- Demand (tonnes)
Inflection points in global gold demand, 2008–2025
2008
Global Financial Crisis
$869
2011
Eurozone Debt Peak
$1,895
2020
Pandemic Stimulus
$2,070
2022
Rate Hiking Cycle
$1,824
2024
Central Bank Buying
$2,544
2025
Reserve Currency Shift
$2,841
§ 06
Composition
Layout Patterns
Six recurring page structures across the publication, from hero openers to comparison grids.
Hero — Editorial with Stat Sidebar
Issue 01 · The Pivot
When sovereigns prefer metal to paper.
Gold YTD
+24.6%
CB Buying
1,037t
DXY
-3.8%
Split Editorial
Field Visit · Antwerp
Long Read
Inside the world's last great gold vault.
For 122 years, an unremarkable building in central Antwerp has quietly cleared a third of the planet's physical gold. We were granted, briefly, inside.
Continue ReadingMulti-column Research Grid
Commodities
Copper's structural deficit
12 min
Geopolitics
BRICS settlement architecture
15 min
Narrative Chart Layout
Figure 12 · Gold
A 12-month repricing without a single rate cut.
Gold's 2024 advance came against the highest real yields in two decades — a divergence that requires either yields to fall, or our model of safe-haven flows to be substantially revised.
R² = 0.872 · σ = 4.2%
+39.1%
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§ 08
Behavior
Interaction & Responsive States
Hover, focus, disabled, and responsive breakpoint behavior — restrained transitions, never bouncy.
Input States
Default
Focus
Error
Hover Treatments
Responsive Behavior
XS
< 640px
MD
640–1024px
LG
1024–1280px
XL
≥ 1280px
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