SchiffGold’s Blog

As we approach the middle of the month, here are the trends we’re seeing in the COMEX, along with a little more data on the national debt.

Based on COMEX data, gold is set to have another strong month in April, which is not surprising given the lead-up.

The big action in silver occurred early in the month, making March a pretty large outlier. First, it continues the recent trend of increasing deliveries. Second, deliveries were 8.7% of the max open interest for the month. This is the highest percentage since July 2020 when prices took off. There are still 24 open interest […]

Data coming from the COMEX could indicate growing pressure for a breakout in gold and silver. COMEX data has shown large deviations for several months. Most of this occurred before Russia invaded Ukraine and these deviations have grown larger since. The invasion seems to have accelerated trends that were already in place.

Banks are in the process of restocking gold at a pace not seen in years. 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 […]

Weeks before the Russian invasion of Ukraine, I highlighted Comex data points that could signal a big move ahead in gold. The invasion may have been the spark to light the fire, but the data showed the groundwork was being laid back in January. Silver has now sent up its own flare that may be […]

There have been some major adjustments to headline data numbers so far in February from the BLS, the Fed, and now the Comex. This analysis focuses on gold and silver delivery volume on the Comex. See the article What is the Comex for more detail.

As mentioned yesterday, daily updates into the March close are warranted given the extreme situation in the market. Today is First Position, which means the data tonight will give the first indication of March deliveries. Let’s get into it…

Usually, I only do one Comex Countdown into the close, but… you know… a war just started. Throw on top the fact that the Comex has been flashing warning signs lately, and I think a daily update is warranted for the next three days. It’s very possible delivery volume is very robust which could put pressure […]

The last article highlighted the strange things going on in the gold market. Specifically: Cash settlement instead of delivery for February Increased open interest in March Slightly higher spread cost in April. Recent weeks have seen several flashing yellow signs in the gold market.