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Despite market headwinds, gold managed to post a small gain in 2022 thanks to a strong rally in December. Gold gained 3% in the final month of the year, driving the price of the yellow metal to $1,814 an ounce to close out 2022. This represented a 0.4% gain on the year.
Central banks globally added another net 50 tons of gold to their reserves in November, driven in part by the first official purchase by China since 2019.
The US government has once again run up against the debt ceiling. Meanwhile, interest payments on the debt keep growing. The Treasury only added $6B of debt in December, allowing short-term debt to mature and replacing it with longer-term debt. This makes sense as long-term rates are below short-term rates with the inverted yield curve.
The headlines keep telling us the US has a robust job market, but a deeper dive into the data tells a much different story.
You have questions. Friday Gold Wrap host Mike Maharrey has answers. In this episode of the podcast, Mike answers questions submitted by listeners. He covers topics ranging from the American Silver Eagle shortage to the best states for sound money.
The November Trade Deficit saw the first contraction in four months and actually fell to the lowest level since October 2020. This was primarily driven by a collapse in Imported Goods as shown below.
A bill introduced in the Missouri Senate for the 2023 legislative session would take important steps toward treating gold and silver as money instead of as commodities and would set the stage for currency competition in the Show-Me State.
Key Takeaways The price of Bitcoin has been suspiciously stable following the epic collapse of FTX less than 2 months ago The whales are defending the Bitcoin price at $16,000 waiting for interest to flood back into Bitcoin It’s hard to imagine a bigger hype train than 2021 which means Bitcoin may not make a […]
One of the benefits of owning physical gold and silver is there is no counterparty risk.
We’re just a few days into the new year. How are resolutions going? Mine are going fantastic! I didn’t make any.
