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POSTED ON June 10, 2022  - POSTED IN Friday Gold Wrap

The Consumer Price Index (CPI) data for May came out this morning. The projection was for another hot headline number but some relief in core CPI. This would seem to indicate we’ve passed peak inflation. In this episode of the Friday Gold Wrap podcast, host Mike Maharey explains why “good news” in the CPI data would be bad news for inflation. Then he reacts to the data in real-time. (Hint — it wasn’t good news.)

POSTED ON June 7, 2022  - POSTED IN Exploring Finance

The April trade deficit came in at -$87B. This was the first time in 5 months that a new record had not been set (pink dot below). The Net Goods Deficit remained below -$100B for the fifth straight month. This Trade Deficit comes on the heels of an absolutely massive -$108B Deficit in March. It’s likely that some of the April deficit was counted in March, so expect a rebound in the May number.

POSTED ON June 7, 2022  - POSTED IN Exploring Finance

The Treasury increased the total debt by $125B in May after a brief drop in April. This brings the total debt increase so far in 2022 to $880B. More importantly, though, the cost to service the debt is exploding. Total annualized interest has increased by $40B or 13.5% since the start of the year!

POSTED ON June 6, 2022  - POSTED IN Exploring Finance

Please note: the COTs report was published 6/3/2022 for the period ending 5/31/2022. “Managed Money” and “Hedge Funds” are used interchangeably.

Gold

Since the peak on March 8, Managed Money has massively reduced its Net Long positions by 98k contracts or 66%. Despite massive selling, the gold price has actually held up fairly well. The last time Managed Money net longs dropped this low in February, gold was struggling at the $1800 level, versus the struggle at $1850 now.

POSTED ON June 3, 2022  - POSTED IN Exploring Finance

The May jobs report was widely regarded as strong. The US economy added 390,000 jobs, according to the latest data. But a deeper dive into that data reveals that the labor market might not be as strong as the mainstream spin is leading you to believe. Even with all the new jobs, hiring slowed in five out of eight sectors.

POSTED ON June 3, 2022  - POSTED IN Friday Gold Wrap

Why haven’t gold and silver rallied as one would expect in such a high inflation environment? In this episode of the Friday Gold Wrap, host Mike Maharrey delves into some of the psychology driving the markets and explains why it could be blinding people to just how serious the economic situation has become. He also reports some news that indicates some people may be starting to figure it out.

POSTED ON May 28, 2022  - POSTED IN Exploring Finance

The following provides an in-depth analysis of the COMEX futures options market for gold and silver.

Gold: Recent Delivery Month

Gold started June delivery with 22,394 contracts outstanding. This is below April and December, but above August, October, and February. It is about on par with last June.

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