India’s love for gold is well-known. It is the second largest gold-consuming country in the world behind China. But Indians also have an affinity for silver.
Last year, silver imports into India hit a new record of 304 million ounces. That crushed the previous import high of 260 million ounces set in 2015.
The US economy runs on money printing and artificially low interest rates. Nowhere is that more obvious than in the housing market.
With aggressive rate hikes in its war against price inflation, the Federal Reserve pricked the housing bubble and air continues to seep out. Existing home sales fall for the 11th straight month in December — the longest streak of declines in history.
A bill filed in the Tennessee Senate would establish a state bullion depository. This would not only create a safe place to store precious metals; it also has the potential to facilitate the everyday use of gold and silver in financial transactions in the Volunteer State and undermine the Federal Reserve monopoly on money.
Last week, the Producer Price Index data finally showed some cooling of wholesale prices. That coupled with better-than-expected CPI data further buoyed hope that the Fed is winning the war on inflation. But in his podcast, Peter Schiff emphasized that easing inflation is transitory. And a weakening dollar will be a big part of the story.
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 stock/inventory data at the Comex to show the physical movement of metal into and out of Comex vaults.
Pop some popcorn and get ready for the next political dog and pony show. The US government bumped up against its statutory borrowing limit this week. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks about the looming debt ceiling fight and the deeper problems that will inevitably get ignored as everybody absorbs the political theater. He also talks about the growing bullishness in the gold market.
We talk a lot about the Federal Reserve. Its policies have a significant impact on the economy and it moves markets week after week. For instance, over the last year or so, the Fed’s “inflation fight” has created headwinds for gold and silver.
But what exactly is the Federal Reserve?
Here we go again.
The clock is ticking down to another US debt ceiling fight.
According to Treasury Secretary Janet Yellen, the US government will officially bump up against the debt ceiling Thursday (Jan. 19).
Gold posted a small gain in 2022, and it was one of the best-performing assets of the year. Nevertheless, there is still a perception in the mainstream that gold is dead. But that perception may be changing. In a recent note, Bank of America commodity strategist Michael Widmer said gold will be a “mainstay” in portfolios over the next several years.
With the rate of increase in the CPI slowing, many people in the mainstream think the Federal Reserve is winning the war on inflation. In a recent podcast, Peter Schiff said this is wishful thinking. He said that the Fed is losing the war and it will ultimately surrender to inflation.
Schiff is not alone in his thinking. In a recent interview with The Market NZZ, investment guru Jim Grant argues that we have not seen the last of this inflationary outburst because inflation has become deeply rooted in the global financial system.
