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Yesterday (April 5) marked the anniversary 0f the signing of Executive Order 6102 by President Franklin D. Roosevelt. It was touted as a measure to stop gold hoarding, but it was in reality, an attempt to remove gold from public hands. Many people refer to EO-6102 as a gold confiscation order. But confiscation is probably […]
The February Trade Deficit increased for the third month in a row, rising by $1.9 billion. Net Goods came in at -$92.9B with Net Services at $22.4B to reach a total of -$70.5B.
Based on the latest Commitments of Traders (COT) report, the latest price action is potentially even more bullish than normal. The latest price moves have been supported by Managed Money but the data clearly shows there is more driving the upward movement. Please note: the CoTs report was published 03/31/2023 for the period ending 03/28/2023. […]
There’s no sign of a slowdown in central bank gold buying. In February, central bank gold reserves rose by another 52 tons, according to the latest data compiled by the World Gold Council. It was the 11th straight month of central bank net gold purchases.
Gold has been seeing a large number of contracts roll in the final day of the contract. That did not happen this month. This has resulted in a large delivery volume.
By now it should be common knowledge that the Fed has blown up its balance sheet rather quickly to combat the current banking crisis. As the chart below illustrates, the Fed added a gargantuan sum to its balance sheet in March, netting an increase of $324B.
The Federal Reserve has added nearly $400 billion to its balance sheet in just two weeks while simultaneously claiming to still be in the inflation fight. While things seemed pretty quiet this week after the bank bailout, Friday Gold Wrap host Mike Maharrey says it’s only a matter of time before the next shoe drops. […]
Tennessee Gov. Bill Lee has signed a bill into law that creates a process for the state to buy, sell, and hold gold and silver. This sets a foundation for Tennessee to achieve more financial independence with gold and silver reserves and could help undermine the Federal Reserve’s monopoly on money.
The seasonally adjusted Money Supply in February fell $121B and the Money Supply in January was revised from positive $31B to -$142B. This is a major revision and now means the Money Supply has fallen for seven straight months.
Central banks have been gobbling up gold. On net, central banks bought 1,136 tons of gold in 2022. It was the highest level of net purchases on record dating back to 1950 and the 13th straight year of net gold purchases. The question is will central banks continue to have an appetite for gold through […]
