Peter's Blog

Trade Deficit Increases Again in February to $70.5 Billion

The February Trade Deficit increased for the third month in a row, rising by $1.9 billion. Net Goods came in at -$92.9B with Net Services at $22.4B to reach a total of -$70.5B.

CFTC CoTs Report: Price Drivers Go Beyond the Futures Market

Based on the latest Commitments of Traders (COT) report, the latest price action is potentially even more bullish than normal. The latest price moves have been supported by Managed Money but the data clearly shows there is more driving the upward movement. Please note: the CoTs report was published 03/31/2023 for the period ending 03/28/2023. […]

Comex Reins in Platinum but Sees Gold Deliveries Rise

Gold has been seeing a large number of contracts roll in the final day of the contract. That did not happen this month. This has resulted in a large delivery volume.

The Fed Prints $324B in March As QE Restarts

By now it should be common knowledge that the Fed has blown up its balance sheet rather quickly to combat the current banking crisis. As the chart below illustrates, the Fed added a gargantuan sum to its balance sheet in March, netting an increase of $324B.

The Next Shoe to Drop? SchiffGold Friday Gold Wrap March 31, 2023

The Federal Reserve has added nearly $400 billion to its balance sheet in just two weeks while simultaneously claiming to still be in the inflation fight. While things seemed pretty quiet this week after the bank bailout, Friday Gold Wrap host Mike Maharrey says it’s only a matter of time before the next shoe drops. […]

Tennessee Governor Signs Bill Authorizing State Gold and Silver Reserves

Tennessee Gov. Bill Lee has signed a bill into law that creates a process for the state to buy, sell, and hold gold and silver. This sets a foundation for Tennessee to achieve more financial independence with gold and silver reserves and could help undermine the Federal Reserve’s monopoly on money.

Money Supply Is Flashing Red

The seasonally adjusted Money Supply in February fell $121B and the Money Supply in January was revised from positive $31B to -$142B. This is a major revision and now means the Money Supply has fallen for seven straight months.

Silver Jewelry Sales Boom Will Help Drive Overall Silver Demand Higher

Jewelry production is an important driver of overall silver demand. In 2022, the amount of silver used in jewelry was up around 29% as overall silver demand hit record levels. Silver jewelry production used around 235 million ounces of silver. And according to a recent survey by the Silver Institute, silver jewelry sales are on […]

Comex Update: Delivery Volume Slows Even as Prices Rise

Gold is wrapping up March, which is a minor delivery month. While it was a decent delivery month, it was the smallest minor month since November 2021.

The Fed Is Trying to Thread a Needle With a Rope: SchiffGold Friday Gold Wrap March 24

On Wednesday, the Federal Reserve raised interest rates again despite the problems in the banking system. In this episode of the Friday Gold Wrap, host Mike Maharrey talks about the Fed’s inflationary efforts to paper over the problems in the financial system while still keeping up the pretense of an inflation fight. He says it’s […]