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The latest seasonally adjusted inflation rate for November was .76% month over month, with a non-seasonally adjusted annual rate of 6.81%. These numbers were generally in line with mainstream expectations that have finally gotten high enough to match the blistering hot inflation numbers coming out month after month.
Pretty much everybody now expects the Federal Reserve to go to war against inflation, but the central bank has a problem not many people seem to be talking about – an economy buried under debt. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks about consumer debt levels and their ramifications. […]
The October trade deficit fell but the drop was primarily due to a data anomaly. October 2021 charted a total trade deficit of -$67.1 billion. It was the lowest trade deficit since April 2021. Month-on-month, the trade deficit fell 17% from the record set in September.
Similar to August and September, the total national debt has not increased due to the current debt ceiling that’s in place. Similar to August, the Treasury has raided public retirement accounts to continue funding government spending (light green bar below). Looking at the bigger picture, Covid has forever shifted the landscape of US Debt.
Looking at the data, it appears hedge funds are currently driving price action in the gold market Please note: the COTs report was published 12/3/2021 for the period ending 11/30/2021. “Managed Money” and “Hedge Funds” are used interchangeably.
November was the weakest jobs report of the year, coming in at a paltry 210,000, missing consensus expectations of 573,000. There were modest revisions upwards over the last two months of 8,000 and 15,000 for September and October respectively. Nothing to be excited about.
After President Biden announced he was reappointing Jerome Powell for a second term as Federal Reserve Chairman, Powell went hawkish, saying it’s time to retire the word “transitory” when it comes to inflation and talking about speeding up the taper. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks about the […]
Gold and silver delivery requests from the Comex neared a 1-year high in November. Note: This analysis focuses on gold and silver physical delivery on the Comex. See the article What is the Comex for more detail. Additionally, numbers from Comex for December 1 are still preliminary as of publishing. Numbers may change some.
Earlier this week, President Joe Biden announced Jerome Powell will serve a second term as chair of the Federal Reserve. In effect, Biden stuck with the status quo. But the markets reacted as if big changes are afoot. Gold sold off hard, falling back below $1,800 an ounce. In this episode of the Friday Gold […]
With several days to go in the month, the number of silver contracts taken for immediate delivery at the Comex already stands at 741, more than double the total in November 2020. That raises two big questions: who is taking delivery of all this metal mid-month? And more importantly, what are they anticipating? This analysis […]
