Peter's Blog

Hedge Funds Pile into Short Positions During September

Please note: the COTs report was published 10/1/2021 for the period ending 9/28/2021. “Managed Money” and “Hedge Funds” are used interchangeably. The Commitment of Traders analysis last month showed a potentially bullish setup in both gold and silver. The washout of Managed Money Net Long contracts that occurred in early August appeared to be over and a […]

Delivery Results: Silver Down and Gold Mixed

As we move into October, physical silver delivery is down on Comex while gold was a mixed bag. This analysis focuses on gold and silver physical delivery on the Comex. See the article What is the Comex for more detail.

Fed Absorbs $60B of 1 to 5-Year US Treasuries in September

The Fed keeps talk, talk, talking about tapering quantitative easing, but the balance sheet continues to get bigger and bigger and bigger. The Fed balance sheet stands at $8.45 trillion, up by$115 billion from the prior month-end.

Ohio Gold and Silver Tax Repeal Now in Effect

(October 1, 2021) – Beginning today, you will no longer have to pay sales tax when you buy gold and silver in the state of Ohio. Last summer, Ohio Gov. Mike DeWine signed a bill into law that exempts gold and silver bullion and coins from sales tax. This will not only relieve some of the […]

M2 Grows at Fastest Pace Since February

Even as the Fed talked about tightening monetary policy, the money supply grew at the fastest pace since last winter. In the latest period, M2 increased by $263 billion. This is a major jump compared to the last two months and is the highest month-over-month growth since February. The same period in 2020 saw M2 only […]

Price Analysis Shows Bearish Indicators but Exhaustion May Be Near

One of the major technical indicators for investors is the 50 Day Moving Average (DMA) vs the 200 DMA. This analysis examines these moving averages for both gold and silver along with other technical indicators.

The Headline I’d Write: SchiffGold Friday Gold Wrap Sept. 24, 2021

The Federal Reserve wrapped up another FOMC meeting with a whole lot of talk and very little action. Interest rates remain at zero and quantitative easing continues unabated. The mainstream headlines are all focusing on the prospect of QE tapering. In this episode, Friday Gold Wrap host Mike Maharrey explains why he’d write a completely […]

Comex Countdown: Will Gold Lead Silver Higher?

This analysis focuses on gold and silver physical delivery on the Comex as we move from September into October. See the article What is the Comex for more detail.

Silver-Gold Ratio Opening Up Again

The silver-gold ratio has ballooned again, indicating that silver is once again a bargain buy. During a gold bull market, silver typically outperforms gold. We saw this during the big runup in the price of both metals through the early months of the pandemic. In the third quarter of last year, silver charted its best […]

Gold and Silver Both Drain from Comex Inventory

Gold and silver have both significantly drained from the Comex inventory since August 1. 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 data at the Comex to show the physical movement of metal […]