Peter’s Blog

The April trade deficit came in at -$74.5B which was the largest trade deficit since October 2022.

A large sale by Turkey in April caused global central bank reserves to fall for the first time in over a year, even as central bank gold buying continued. Official global reserves dropped by 71 tons in April, according to the latest data collected by the World Gold Council.

Please note: the CoTs report was published 06/02/2023 for the period ending 05/30/2023. “Managed Money” and “Hedge Funds” are used interchangeably. Managed money has once again bailed on gold, which drove the price back below $2000 an ounce despite the “Other” group stepping in to absorb some of the selling.

The BLS reported that a whopping 339,000 jobs were added in May. This crushed median estimates of 190,000 jobs added. The Household Survey tells a very different story though, reporting a loss of 310,000 jobs.

The Fed reduced its balance sheet by $177 million last month. The majority of this was actually in Treasuries with less than 1-year maturity, totaling $102B. The next biggest reduction was in loans, totaling $40B.

As expected, gold has turned in a fairly strong start to the month on the COMEX. It’s below April but is still early in the contract.

If you buy gold or silver, you’re going to pay a premium. So, what exactly is a premium and how is it determined? In this episode of the Friday Gold Wrap, host Mike Maharrey answers common questions about premiums. He also discusses the debt ceiling deal and reveals where Americans rank gold as a long-term […]

Over the last several years, central banks globally have added gold to their reserves at a historically high rate. It doesn’t appear the buying spree will end anytime soon. According to the World Gold Council 2023 Central Bank Gold Reserve survey, 24% of central banks plan to add more gold to their reserves in the […]

When we talk about the spot price of gold and silver, or the return on precious metals investments, some people are quick to remind me that I’m not factoring in premiums. What exactly are premiums?

The Indian central bank has announced another round of demonetization with a plan to withdraw 2,000-rupee notes from circulation. The announcement led to a big jump in gold bullion sales. The 2,000-rupee note will remain legal tender, but they will have to be deposited or exchanged for smaller denominations by Sept. 30.