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Axel Merk is President and Chief Investment Officer of Merk Investments, the investment firm he founded. He follows the big macro picture - central banks, currencies and the dollar - and is best known for his work on gold and gold miners.
He writes Merk Insights on monetary policy, the dollar and gold, and is a frequent guest on CNBC, Bloomberg and Kitco. He is the author of Sustainable Wealth, and holds a B.A. in Economics and an M.Sc. in Computer Science from Brown University. Read more at merkinvestments.com.

Jul 17, 2026 · 8 min readUnlock Gold Mining Value in ASABy Axel Merk, originally published at Merk Insights. ASA (NYSE:ASA) shareholders invested in a gold mining fund. Saba wants to liquidate ASA’s portfolio and repurpose ASA into a Saba-managed vehicle…
May 18, 2026 · 7 min readSecrets from a Top Portfolio ManagerBy Axel Merk, originally published at Merk Insights. Since the current investment process was implemented seven years ago, ASA has generated cumulative returns of more than 500%. More remarkable still,…
Jan 22, 2026 · 9 min readThe Fed’s Mandate: Guardian of the Cookie JarBy Axel Merk, originally published at Merk Insights. Axel Merk, Merk Investments Why is “Fed independence” important? Because the Federal Reserve is the guardian of the Cookie Jar. The Fed…
May 20, 2025 · 1 min readWhat Is Holding Miners Back?By Axel Merk, originally published at Merk Insights. On May 20, 2025, we participated in a webinar entitled: “What is Holding Miners Back?“ In this thought-provoking session, we delved into:…
Mar 18, 2025 · 6 min readThe Plumbing of Global Finance May Be Changing—Can the Dollar Keep Up?By Axel Merk, originally published at Merk Insights. Recent shifts in global financial dynamics have raised critical questions about the future of the U.S. dollar’s dominance. In “Trump’s New World…
Jan 21, 2025 · 1 min readGolden Prospects, Hidden Challenges – Miners in a Rising MarketBy Axel Merk, originally published at Merk Insights. On January 21, 2025, we participated in a webinar entitled: “Golden Prospects, Hidden Challenges: Miners in a Rising Market“ In this thought-provoking…
May 21, 2024 · 7 min readEndeavoring to Generate Value in Gold MiningBy Axel Merk, originally published at Merk Insights. Since ancient times, long before Mark Twain coined the term “There’s gold in them thar hills!” prospectors have been seeking gold. Gold…
Mar 18, 2024 · 10 min readSaba’s Siren Song Risks Dismantling Mining FundBy Axel Merk, originally published at Merk Insights. I’m passionate about Fed policy, fiscal policy, and cautioning against Saba’s siren song. What do they have in common? Throughout my life,…
Mar 13, 2024 · 13 min readASA: Precious Metal Miners at a Discount Attracts SabaBy Axel Merk, originally published at Merk Insights. Among precious metals funds, NYSE:ASA, a +$300 million closed-end fund investing in gold and precious metals since 1958, is truly unique. Now…
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