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.
The Fed launched its much-anticipated war on inflation this week. It wasn’t much of a first strike. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks about the Fed meeting and what might come next. He also touches on the possibility of a “petroyuan.”
Gold is an important part of your investment portfolio. But when you’re buying gold, you don’t want to overpay and you need to be on the lookout for scams.
We got the February CPI data yesterday. There is some bad news in the report and then there is some really bad news. In this episode, SchiffGold Friday Gold Wrap Host Mike Maharrey breaks it all down. He also talks about gold’s rollercoaster ride this week in the context of inflation and the Russia-Ukraine situation.
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 tied to the largest data adjustment ever seen at the CME for silver.
Gold pushed above $2,000 an ounce on Tuesday and made a run at the all-time record high. The yellow metal was up $54 on the day, closing at $2,052 despite some selling after it nudged the all-time high. Some of this is clearly safe-haven buying due to the situation in Russia, and a lot of analysts think gold will fall back to earth once that situation resolves. But Peter Schiff doesn’t think so. In his podcast, he explains why gold would be going up even if Russia never invaded Ukraine.
Gold flowed into gold-backed ETFs for the second straight month in February.
Net inflows of gold into ETFs globally totaled 35.3 tons last month. Total ETF gold holdings globally ended February at 3,650.6 tons, according to the latest data from the World Gold Council.
You’re getting less for more every time you pull out your wallet. Inflation is chewing up the average person’s paycheck. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks about the real pain of inflation. He also talks about Jerome Powell’s testimony before Congress, the trajectory of monetary policy, the strength of the economy, and he breaks the February jobs report live.
Global silver demand is expected to reach a record high of 1.112 billion ounces in 2022. This is one of several silver-related stories in the latest edition of Silver News published by the Silver Institute.
Peter Schiff appeared on Fox Business Live with Charlie Payne to debate bitcoin with Layah Heilpern. Peter argued that the only reason to own bitcoin is speculation and that gold is a much better hedge.
