Get the latest headlines, market analysis, and original content from SchiffGold.
For the first time ever, the money supply contracted on an annual basis in 2022. The seasonally adjusted Money Supply in December was negative for a fifth consecutive month, coming in at -$147B. This was the largest monthly contraction in M2 going back to 1959. This type of contraction typically does not happen!
Gold deliveries in January have reached 6,327 contracts with only 178 remaining in open interest. While this fell shy of the last five minor months, there are a few signs that are noteworthy. First, the delivery volume was greater than last January. This is important because January is typically a slow month after the major […]
The flow of gold and silver out of Comex vaults has slowed in recent weeks, but there is no question that metal continues to move out. This analysis focuses on gold and silver within the Comex/CME futures exchange. See the article What is the Comex? for more detail. The charts and tables below specifically analyze the physical […]
The Federal Government ran a deficit of -$85B in December. While this was much smaller than the deficit posted in November, it marks one of the largest December deficits ever. That pushed then 2022 calendar year deficit to over $1.4 trillion.
The CPI cooled again in December driven by a massive fall in Energy prices. As shown below, the fall in Energy has been a big reason for the recent drop in inflation. Commodities have also been a driver down as Used Cars and Trucks fell -2.5% MoM and -8.8% YoY. That said, stickier items like […]
The US government has once again run up against the debt ceiling. Meanwhile, interest payments on the debt keep growing. The Treasury only added $6B of debt in December, allowing short-term debt to mature and replacing it with longer-term debt. This makes sense as long-term rates are below short-term rates with the inverted yield curve.
The headlines keep telling us the US has a robust job market, but a deeper dive into the data tells a much different story.
The November Trade Deficit saw the first contraction in four months and actually fell to the lowest level since October 2020. This was primarily driven by a collapse in Imported Goods as shown below.
Key Takeaways The price of Bitcoin has been suspiciously stable following the epic collapse of FTX less than 2 months ago The whales are defending the Bitcoin price at $16,000 waiting for interest to flood back into Bitcoin It’s hard to imagine a bigger hype train than 2021 which means Bitcoin may not make a […]
Please note: the CoTs report was published 12/30/2022 for the period ending 12/27/2022. “Managed Money” and “Hedge Funds” are used interchangeably. Gold finished the year on a strong note, with Managed Money reaching a net-long position of 50k. This is the largest net long position for Managed Money going back to June 2022.
