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Silver delivery in December surged to levels not seen since last spring and reversed the downward trend in place since last summer. This analysis focuses on gold and silver physical delivery on the Comex. See the article What is the Comex for more detail.
Gold looked very strong through mid-November. Trends in September and October had been pointing to a breakout. The market delivered sending gold up through $1870. Unfortunately, hard resistance kept the bulls in check, despite repeated attempts to breakthrough. The previous price analysis presumed that a Brainard nomination at the Fed would be the catalyst needed to break through $1880. […]
Gold inventories in Comex vaults increased for only the second time since February this year. 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 stock/inventory data at the Comex to show the physical movement of […]
The federal government continues to run big budget deficits as spending skyrockets. Increasing tax revenues are the only thing keeping the deficits from blowing up even further. But how long will this tax windfall last?
The latest seasonally adjusted inflation rate for November was .76% month over month, with a non-seasonally adjusted annual rate of 6.81%. These numbers were generally in line with mainstream expectations that have finally gotten high enough to match the blistering hot inflation numbers coming out month after month.
The October trade deficit fell but the drop was primarily due to a data anomaly. October 2021 charted a total trade deficit of -$67.1 billion. It was the lowest trade deficit since April 2021. Month-on-month, the trade deficit fell 17% from the record set in September.
Similar to August and September, the total national debt has not increased due to the current debt ceiling that’s in place. Similar to August, the Treasury has raided public retirement accounts to continue funding government spending (light green bar below). Looking at the bigger picture, Covid has forever shifted the landscape of US Debt.
Looking at the data, it appears hedge funds are currently driving price action in the gold market Please note: the COTs report was published 12/3/2021 for the period ending 11/30/2021. “Managed Money” and “Hedge Funds” are used interchangeably.
November was the weakest jobs report of the year, coming in at a paltry 210,000, missing consensus expectations of 573,000. There were modest revisions upwards over the last two months of 8,000 and 15,000 for September and October respectively. Nothing to be excited about.
Gold and silver delivery requests from the Comex neared a 1-year high in November. Note: This analysis focuses on gold and silver physical delivery on the Comex. See the article What is the Comex for more detail. Additionally, numbers from Comex for December 1 are still preliminary as of publishing. Numbers may change some.
