This analysis focuses on gold and silver physical delivery on the Comex. See the article What is the Comex for more detail.
There is a lot of spin out there when it comes to economic news. You get spin from the corporate media, You get spin from government officials. And you get spin from central bankers. In this episode of the Friday Gold Wrap, host Mike Maharrey spins the spin, breaking down the media take on the retail sales numbers and Jerome Powell’s spin during a talk this week. Whom should we believe? Listen and decide.
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.
When I was about seven or eight years old, I remember my mom taking me to the bank to open a savings account. She explained that if I put some of my allowance in savings, that money would grow over time.
Well, that doesn’t work anymore.
Gold-backed ETFs saw net inflows of gold for the fourth straight month in April.
ETFs globally added 42.8 tons of gold to their holding, with Europe-based funds leading the way.
When we got the March CPI data last month, the mainstream crooned that it looked like we were at peak inflation. This was wishful thinking. The April CPI data that came out this week, along with the producer price numbers, indicate that we’re still climbing that inflation mountain. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey digs into the data and discusses how it could impact the trajectory of Fed monetary policy and the economy.
Tax revenues have been on the rise for about 18 months. As speculated previously, if this windfall was temporary, it would have shown up with a deficit in April due to a higher than normal tax returns surge. April is historically a positive month for the Treasury, but a surge in tax returns leading to a deficit would have suggested the past year was potentially a fluke.
The latest seasonally adjusted inflation rate for April came in higher than expectations at 0.34% MoM and 8.28% YoY. The main driver for the MoM slowdown was a fall in Energy prices.
Virginia and Alabama both extended their sales tax exemptions on precious metal bullion this year, relieving some of the tax burdens on investors, and taking a step toward treating gold and silver as money instead of as commodities.
Back in 2019, CNBC commentator Jim Leventhal said he had no interest in gold because it has no uses as a metal. This comment was a real head-scratcher because, besides its extensive use in jewelry, gold is an increasingly important industrial input, particularly in the technology sector.
