Blog

The Technical Picture: Can the metals hold support?

SchiffGold
Gold Silver
Pricing Analysis

A sizeable rally now needs time to consolidate

Comex Vaults See Seventh Straight Month of Outflows

SchiffGold
Gold Silver
Comex Stock

Ratio of contracts to registered has reached 20

Bitcoin Hodlers: Time is Running Out to Convert Nothing into Something

SchiffGold
US Debt
Budget Deficit

This market is being propped up by the whales. How much longer can they hold it?

Budget Deficit: Annual Interest Expense Increases 40% Compared to Last October

SchiffGold
US Debt
Budget Deficit

Fiscal year 2022 closes with another record in revenue

CPI: Annualized Pace of Increase is Still over 5%

SchiffGold
US Debt
Inflation

The window for the Fed is closing

Treasury Prepares for Another Debt Ceiling Saga

SchiffGold
US Debt
Debt Analysis

Interest costs are exploding upwards

Comex Results: This Game Has Changed

SchiffGold
Gold Silver
Comex Results

Open Interest relative to Registered is exploding

Will Managed Money Get Stuck Holding the Short Straw?

SchiffGold
Comex
COTS Analysis

Managed Money is dominating the price for now, but that could change quickly

The Fed is Still Coming up Short on QT

SchiffGold
US Debt
Fed Balance Sheet

October QT Falls short of $95B target

Money Supply Growth Rate is Still Negative

SchiffGold
US Debt
Money Supply

This poses major risks for stocks and the market at large

The Technical Picture: More Time is Needed Before a Sustainable Rally Begins

SchiffGold
Gold Silver
Pricing Analysis

The CFTC Increased Margin to Cap the Advance in Silver

Student Loan Forgiveness Creates Largest September Deficit Ever

SchiffGold
US Debt
Budget Deficit

Fiscal year 2022 closes with another record in revenue

Comex Update: The Metal Will be Gone in Months

SchiffGold
Gold Silver
Comex Countdown

This has been a strategic and deliberate extraction

Comex Inventory: 17.4 Paper Ounces of Silver for Each Registered Ounce

SchiffGold
Gold Silver
Comex Stock

This game of musical chairs will end soon

CPI: This Game of Chicken is Almost Over

SchiffGold
US Debt
Inflation

The Fed has no excuse to stop hiking until something breaks

Jobs Report: 7 of 8 Categories are Below Trend While Revisions are Negative Again

SchiffGold
US Debt
Employment

Current month shows all 8 categories below 12-month trend

Treasury Locks in Higher Rates for Longer Despite Exploding Interest Costs

SchiffGold
US Debt
Debt Analysis

Interest costs are exploding upwards

Trade Deficit: Are Falling Imports Further Sign of Recession?

SchiffGold
US Debt
Trade Deficit

Trade Deficit almost 40% below recent records

CoTs Report: Managed Money Hammers Gold for 7th Straight Week

SchiffGold
Comex
COTS Analysis

This the longest such streak since August 2018

Comex: Platinum Shorts Live to See Another Day

SchiffGold
Gold Silver
Comex Results

This could be early signs for what's happening in gold and silver

Surprise! Another Month = Another Failed Attempt at QT

SchiffGold
US Debt
Fed Balance Sheet

September did not prove to be the first month of major run-off

Calling the Fed’s Bluff: They are Holding a Losing Hand

SchiffGold
US Debt
Debt Analysis

The math shows the Fed cannot stick to their plan

Collapse in Money Supply is Still a Major Risk for the Market

SchiffGold
US Debt
Money Supply

Money supply still deep in negative territory

Price Analysis: Support Becomes Resistance

SchiffGold
Gold Silver
Pricing Analysis

The market is due for a bounce but it might be short lived

Comex Update: September Gold Delivery Volume Blasts Higher

SchiffGold
Gold Silver
Comex Countdown

Strength in gold continues

Comex Stock Report: The Vaults are Still Bleeding

SchiffGold
Gold Silver
Comex Stock

Gold and silver continue to leave the vault at an alarming rate

August CPI Shows Inflation Getting Stickier

SchiffGold
US Debt
Inflation

The Fed's runway continues to get shorter

Treasury Runs Largest August Deficit Ever as Interest Costs Soar

SchiffGold
US Debt
Budget Deficit

Record Revenues are not keeping pace with spending

Trade Deficit Still Historically High Despite Fall Since March

SchiffGold
US Debt
Trade Deficit

Trend should be easier to identify in the months ahead

US Debt: Annualized Interest Surges More Than $22B in a Single Month

SchiffGold
US Debt
Debt Analysis

Interest costs are exploding upwards

CFTC Report: Silver Net Short Position Reaches New High for the Move

SchiffGold
Comex
COTS Analysis

Sentiment is extremely negative

Jobs Report: Multiple Full-time Job Holders Reaches All-Time High

SchiffGold
US Debt
Employment

Current month shows all 8 categories below 12-month trend

Is the Fed Worried About the Mortgage Market?

SchiffGold
US Debt
Fed Balance Sheet

Fed has been unable to reduce holdings of MBS over the last 3 months

BofA Backstops Strong Delivery Volume in Silver

SchiffGold
Gold Silver
Comex Results

Silver and Gold Both Strong but for Different Reasons

Comex Update: House Accounts See Largest Net Delivery Volume on Record

SchiffGold
Gold Silver
Comex Countdown

Strength in gold continues

13 Week Money Supply Growth Hits Multi-Decade Low

SchiffGold
US Debt
Money Supply

Money supply falls deeper into negative territory

Gold and Silver Price Analysis: Caution is Warranted in the Short-Term

SchiffGold
Gold Silver
Pricing Analysis

The Fed will pivot but the market doesn't see it yet

Comex Inventories Plummet - Is a "Vault-Run" Underway?

SchiffGold
Gold Silver
Comex Stock

Gold inventories are down 18% since May with Silver Registered down 41% since March

July CPI Pauses - Is Peak Inflation Over?

SchiffGold
US Debt
Inflation

Once the Fed returns to easing, inflation will surge again

Treasury Runs Second Largest July Deficit of All Time

SchiffGold
US Debt
Budget Deficit

A fall in Individual Taxes is very concerning

US Debt: The Sting of Higher Interest Rates is Just Getting Started

SchiffGold
US Debt
Debt Analysis

Interest costs have increased by $65B or 22% in 7 months

Is a Falling Deficit Further Proof of Recession?

SchiffGold
US Debt
Trade Deficit

The Government cannot ignore this recession forever

CFTC Report: Are the Shorts About to Get Squeezed?

SchiffGold
Comex
COTS Analysis

Market is extreely oversold

Comex Deliveries: August Gold Starts Strong

SchiffGold
Gold Silver
Comex Results

Metal is leaving Comex at an accerlerated pace

Fed Balance Sheet: Too Little Too Late

SchiffGold
US Debt
Fed Balance Sheet

Fed is closer to the end then the beginning of their tightening cycle

Money Supply Growth Rate Drops Below 2008

SchiffGold
US Debt
Money Supply

13-week annualized growth has turned negative

Comex Update: Gold Sees Massive Delivery Volume Mid-Month

SchiffGold
Gold Silver
Comex Countdown

Backwardation shows huge demand for physical

Technical Analysis: Is This Capitulation?

SchiffGold
Gold Silver
Pricing Analysis

Will FOMC and GDP be the spark?

Comex Stock Report: Why is Backwardation Causing a Collapse in Registered?

SchiffGold
Gold Silver
Comex Stock

Backwardation should have the opposite effect

June YoY CPI was Horrific - The Next Three Months Could be Worse

SchiffGold
US Debt
Inflation

Energy may cool, but low numbers from last year are coming off the board

Treasury Fails to Capitalize on Record Tax Revenues

SchiffGold
US Debt
Budget Deficit

Annual spending is still near \$6T

Treasury Interest Cost Will Soar Past $500B in the Months Ahead

SchiffGold
US Debt
Debt Analysis

Treasury is still converting short-term to long-term

Jobs Report: Revisions Have Turned Negative

SchiffGold
US Debt
Employment

Job growth continues to slow versus 12-month trend

Jobs Report: Revisions Have Turned Negative

SchiffGold
US Debt
Employment

Job growth continues to slow versus 12-month trend

Yearly Trade Deficit Approaches $1T

SchiffGold
US Debt
Trade Deficit

July could be break the $1T ceiling

CFTC Report Shows the Most Neutral Precious Metals Market in Years

SchiffGold
Comex
COTS Analysis

Increase in Short Positioning pushes market to a neutral stance

Did the Fed Forget to Start QT?

SchiffGold
US Debt
Fed Balance Sheet

Fed Balance Sheet Reduces by $1B versus $45B promised

Comex Results: Gold and Silver Fail to Deliver

SchiffGold
Gold Silver
Comex Results

Silver has weakest delivery volume in several years

Money Supply Growth Slows Enough to Pop the Everything Bubble but not Enough to Cure Inflation

SchiffGold
US Debt
Money Supply

13-week annualized growth is crashing

Technical Analysis: Gold is Building Solid Support

SchiffGold
Gold Silver
Pricing Analysis

Silver is stuck between industrial and monetary metal

Comex Countdown: What's Really Going on With Silver?

SchiffGold
Gold Silver
Comex Countdown

Don't be fooled by tight trading ranges

Comex Inventory: Gold Outflows Accelerate While Silver Sees Significant Shuffling

SchiffGold
Gold Silver
Comex Stock

Pledged gold is approaching a new record

CBO Does Not Expect Revenue Surge to Last

SchiffGold
US Debt
Budget Deficit

CBO can also not explain a third of the surge

Peak inflation Still Ahead as 97.5% of the CPI is Above the 12-Month Average

SchiffGold
US Debt
Inflation

Rebound in Energy sparks highest inflation in 40 years

Yearly Trade Deficit Sets New Record Despite MoM Decrease

SchiffGold
US Debt
Trade Deficit

Could a fall in Imports be due to less discretionary income?

Treasury Scrambles to Lock in Rates as Borrowing Costs Soar

SchiffGold
US Debt
Debt Analysis

Treasury converts $370B of short-term to long-term over three months

CFTC: Hedge Funds Cover Brief Net Short Position in Silver

SchiffGold
Comex
COTS Analysis

Gold has also seen a major reduction in long interest

Hiring slows in 5 of 8 sectors

SchiffGold
US Debt
Employment

Job growth is decelerating

Comex Delivery Update: Shorts are Dragging Their Feet Again

SchiffGold
Gold Silver
Comex Results

Demand for delivery remains healthy

Foreign Holders Join the Fed in Reducing Holdings

SchiffGold
US Debt
Fed Balance Sheet

Fed Balance Sheet Reduction Commences

Monthly M2 Contracts for the First Time in Over 12 Years

SchiffGold
US Debt
Money Supply

13-week annualized growth is crashing

Technical Analysis: Has Thie Pullback Run Its Course?

SchiffGold
Gold Silver
Pricing Analysis

The Fed can only keep talking for so long

Comex Countdown: Gold Shows Strength while Silver Sees Cash Settlement

SchiffGold
Gold Silver
Comex Countdown

Gold is clearly catching a bid behind the scenes

Comex: Total Inventory Grows but Supply to Meet Delivery Shrinks

SchiffGold
Gold Silver
Comex Stock

More metal is being put into Eligible

CPI: Nearly 70% of the CPI is Above the 12-Month Average

SchiffGold
US Debt
Inflation

MoM increase of 0.34% is higher than expectations

Federal Surplus: Did the Treasury Just See Peak Revenue?

SchiffGold
US Debt
Budget Deficit

April shatters previous surplus record

Was March a Strong Jobs Report? Maybe...

SchiffGold
US Debt
Employment

The BLS Modesl are anticipating stronger than average job growth later this year

A New Paradigm: Interest Grows Even When Total Debt Shrinks

SchiffGold
US Debt
Debt Analysis

What happens when the debt starts growing again?

Trade Deficit Explodes 22.3% MoM and 53.8% YoY

SchiffGold
US Debt
Trade Deficit

TTM Imported Goods Rises Above $3T

Comex Results: May is Quiet, but June Looks Strong in Both Metals

SchiffGold
Gold Silver
Comex Results

Underlying data shows strength in gold and silver

CFTC: Swaps Have Increased Gold Short Position by More than 1,300% since Nov 2015

SchiffGold
Comex
COTS Analysis

Gold price has held up well in the face of massive selling from Hedge Funds

Can the Fed Pull Off a Magic Trick?

SchiffGold
US Debt
Fed Balance Sheet

New Record is Reached Intra-month

Money Supply Growth Rate Continues to Decelerate

SchiffGold
US Debt
Money Supply

How much longer can markets stay levitated as Fed pulls liquidity?

Technical Analysis: Will $1900 Hold?

SchiffGold
Gold Silver
Pricing Analysis

Will the Fed's bluff push precious metals lower

Comex Countdown: Are Banks Forgetting Silver to Focus on Gold?

SchiffGold
Gold Silver
Comex Countdown

May should be another strong month for gold

The Surge in Gold Inventory Continues at Comex

SchiffGold
Gold Silver
Comex Stock

Inventory is highest since August 2021

Treasury Runs Smallest Q1 Deficit Since 2016

SchiffGold
US Debt
Budget Deficit

Surging revenues have been a major windfall - will it continue?

CPI 1.2% MoM and 8.6% YoY - Is this Peak Inflation?

SchiffGold
US Debt
Inflation

Will a recession slow price increases?

Comex Update: Spreads, House Accounts, and a US Debt Chart

SchiffGold
Gold Silver
Comex Countdown

Market Contango is growing

Annualized Interest on US Debt Increased $16.4B in 6 Months

SchiffGold
US Debt
Debt Analysis

...and the Fed is just getting started

Trailing Twelve Month Trade Deficit Exceeds $900B

SchiffGold
US Debt
Trade Deficit

Deficit relative to GDP is surging

Hedge Funds Have Room to Push Gold Higher

SchiffGold
Comex
COTS Analysis

Down 40k Net Longs from the March Peak, Hedge Funds have dry powder to work with

Quantitative Easing Has Seemingly Ended (for now)

SchiffGold
US Debt
Fed Balance Sheet

The Fed will be back sooner than they want

Was March a Strong Jobs Report? Maybe...

SchiffGold
US Debt
Employment

The BLS Modesl are anticipating stronger than average job growth later this year

Gold Enters April Delivery on a Strong Note

SchiffGold
Gold Silver
Comex Results

May and June continue to see abnormaly high demand

Comex April Countdown: Silver Pops Higher with Gold Trending Strong

SchiffGold
Gold Silver
Comex Countdown

April, May, and June are showing strength in gold

Money Supply Growth is Rapidly Decelerating

SchiffGold
US Debt
Money Supply

Could this put downward pressure on the stock market?

Technical Analysis: Resting Between Fragile Support and Weak Resistance

SchiffGold
Gold Silver
Pricing Analysis

Gold and silver enter a consolidation pattern

Banks Are Restocking Gold at Fastest Pace in Years

SchiffGold
Gold Silver
Comex Stock

Are the banks preparing for massive delivery volume?

Bulls Beware the Margin Lever

SchiffGold
Gold Silver
Comex Countdown

Are the big players letting prices run?

Treasury Runs Largest Deficit in 8 Months After First Surplus in 2.5 Years

SchiffGold
US Debt
Budget Deficit

Revenues surged 16.7% compared to last February

Unrounded MoM CPI: 0.65% - Price Increases are Widespread

SchiffGold
US Debt
Inflation

Inflation is infecting every part of the economy

Comex Update: First Gold and Now Silver

SchiffGold
Gold Silver
Comex Countdown

Silver is flashing a warning sign similar to gold

Trade Deficit: Another Record Shattered

SchiffGold
US Debt
Trade Deficit

Trade Deficit Surges 9.4% to $89.7B

Treasury Adds Another $94B in Short-Term Debt

SchiffGold
US Debt
Debt Analysis

Total debt increased $278B

February was a Strong Jobs Report Across All Measures

SchiffGold
US Debt
Employment

Seasonal adjustments are anticipating robust job growth in the spring and summer

Comex Results: February Becomes the Month of Adjustments

SchiffGold
Gold Silver
Comex Results

In the last day for contracts to roll, silver open interest was adjusted down 30%

CFTC: Managed Money Did Not Drive Year-End Price Surge

SchiffGold
Comex
COTS Analysis

Hedge Funds have weak hands

The Fed Pulls Back on Treasuries but Dives in on MBS

SchiffGold
US Debt
Fed Balance Sheet

Fed Still Manages to Add $68B in February

Seasonal Adjustments - Did Money Supply Expand or Contract?

SchiffGold
US Debt
Money Supply

Non-Seasonally Adjusted M2 Collapsed

Comex Countdown: 1 Day to Go - March Delivery Could Set Records

SchiffGold
Gold Silver
Comex Countdown

Activity is showing people want physical

The Technicals: Is the Rally Sustainable?

SchiffGold
Gold Silver
Pricing Analysis

Is gold simply getting a bid from the pending Russia invasion?

Comex Vaults See Inventory Fall 3% in the Last Month

SchiffGold
Gold Silver
Comex Stock

The outflows have accelerated in recent weeks

Comex Countdown: Feb, March, and April All Flashing Yellow

SchiffGold
Gold Silver
Comex Countdown

Convergence of outlier trends have emerged

Comex Countdown: 2 Days to Go as War Begins

SchiffGold
Gold Silver
Comex Countdown

Convergence of outlier trends have emerged

Treasury Realizes First Surplus in Nearly 2.5 Years

SchiffGold
US Debt
Budget Deficit

Will it last?

Unrounded MoM CPI: 0.65% - Price Increases are Widespread

SchiffGold
US Debt
Inflation

Inflation is infecting every part of the economy

2021 Trade Deficit Shatters Historical Record Set Back in 2006

SchiffGold
US Debt
Trade Deficit

The trend is likely to continue

Are There Tremors in the Gold Market?

SchiffGold
Gold Silver
Comex Results

Multiple indicators are flashing yellow

Treasury Increases Short-Term Debt by $200B as Total Debt Crosses $30T

SchiffGold
US Debt
Debt Analysis

Short-term debt poses greatest risk to Treasury

Don't get too excited, most of these revised job gains were already counted

SchiffGold
US Debt
Employment

Major revisions have pulled job growth from last summer into the last few months

What is the Comex Gold Market Signaling?

SchiffGold
Gold Silver
Comex Results

Jan, Feb, and March are all acting strange

Fed Struggles to Taper - Adds Over $100B in January

SchiffGold
US Debt
Fed Balance Sheet

Will the Fed find it just as hard to raise interest rates?

Money Supply Grows at 13.1% in 2021 - Is it enough to keep the bubble going?

SchiffGold
US Debt
Money Supply

Seasonally adjusted M2 is rapidly closing in on $22T

The Technicals: Will $1800 Hold

SchiffGold
Gold Silver
Pricing Analysis

Gold and silver both show promise but need to follow through

Comex Countdown: BofA House Strikes Back

SchiffGold
Gold Silver
Comex Countdown

January sees extremely strong demand in both gold and silver

Last Month Proves to be an Outlier - Metal is Leaving Comex Vaults Again

SchiffGold
Gold Silver
Comex Stock

How will increased delivery volume affect Comex inventory in the months ahead?

Can the Deficit Fall Below $1 Trillion in 2022?

SchiffGold
US Debt
Budget Deficit

Will Tax Revenues Continue to Surge?

Is Omicron Hiding Much Higher Inflation?

SchiffGold
US Debt
Inflation

A slow down in energy prices disguises a high inflation number

December Jobs: All but One Category are Way Behind 12-Month Trend

SchiffGold
US Debt
Employment

On average, the job market slows after the holiday season

Treasury adds $709B to the Debt in a Single Month

SchiffGold
US Debt
Debt Analysis

Who is going to absorb all the new debt as the Fed Tapers?

Comex House Accounts get Crushed in December: The Canary?

SchiffGold
Gold Silver
Comex Results

House Accounts see Largest Outflow on Record

Goods Deficit Approaches $100B

SchiffGold
US Debt
Trade Deficit

A data anomaly will not rescue the trade deficit next month

CFTC: Managed Money Did Not Drive Year-End Price Surge

SchiffGold
Comex
COTS Analysis

Hedge Funds have weak hands

Comex Delivery Results: Will Momentum Continue in January?

SchiffGold
Gold Silver
Comex Results

Mid-Month contracts opening could drive both to Jan Records

Has the Taper Really Started? Who Will Fill the Massive Gap?

SchiffGold
US Debt
Fed Balance Sheet

The Fed has Quadrupled International Treasury Purchases Since August 2019

November Money Supply: Similar and Different to Nov 1972

SchiffGold
US Debt
Money Supply

Seasonally adjusted M2 grows at $250B or 15.1% Annualized increase

Comex Countdown: December Delivery Surges and January Looks Strong

SchiffGold
Gold Silver
Comex Countdown

Gold sees lots of new contracts after First Notice

The Technicals: Yet Another Battle at $1800

SchiffGold
Gold Silver
Pricing Analysis

Gold lost momentum last month but is trying to recover

Comex Stock Report: JP Morgan Refill the Coffers

SchiffGold
Gold Silver
Comex Stock

How deep is the real supply at the Comex?

Tax Revenues Surge 20% Compared to 2020 and 2019, Will it Last?

SchiffGold
US Debt
Budget Deficit

$2.7T Trailing Twelve Month Deficit up 164% compared to Nov 2019

Expectations are Finally High Enough for Sky High Inflation

SchiffGold
US Debt
Inflation

Shelter is finally starting to creep up

Data Anomaly causes October Trade Deficit to Shrink

SchiffGold
US Debt
Trade Deficit

$8B in Exported Goods were pulled forward from September to October

US Debt: The Landscape has Changed and the Fed can do Nothing About it

SchiffGold
US Debt
Debt Analysis

A 1% increase in rates is nearly 50% more costly in Notes and Bills than even 3 years ago

Hedge Fund are Driving Price Action in the Gold Market

SchiffGold
Comex
COTS Analysis

Hedge Funds have weak hands

Jobs Analysis: What if Leisure and Hospitality has Fully Recovered?

SchiffGold
US Debt
Employment

Does little movement in gold mean the buyers are exhausted?

Gold and Silver Delivery Requests Near 1 Year Highs, Prompting Cash Settlements

SchiffGold
Gold Silver
Comex Results

Why are contracts cash settling?

What Taper? Fed adds $126B in November

SchiffGold
US Debt
Fed Balance Sheet

Fed Increases MBS by $80B

Someone Took Immediate Delivery of 741 Comex Silver Contracts in November (so far)

SchiffGold
Gold Silver
Comex Countdown

Contracts opened after the close is nearing a record

Money Supply Growth Accelerates Into Year End

SchiffGold
US Debt
Money Supply

Growth Rate is nearing a record for this time of year

Will Gold Blast Through $1900 on a Brainard Nomination This Weekend?

SchiffGold
Gold Silver
Pricing Analysis

Gold's head must hurt from hitting it's head so many times on $1870

Comex Vaults See Another Big Fall in Invetory

SchiffGold
Gold Silver
Comex Stock

Recent trends of declining inventory continues

CPI Blasts past expectations, up .95% MoM with Widespread Increases

SchiffGold
US Debt
Inflation

Will the opening economy spark even more inflation?

Budget Deficit Represents Greater than 35% of Total Expenditures

SchiffGold
US Debt
Budget Deficit

MoM Deficit increased 170%

Strong Jobs Creates Buying in Gold? Is all the bad news priced in?

SchiffGold
US Debt
Employment

Strong Jobs numbers across the board

Treasury Binges in October, Adding Almost Half a Trillion in Debt

SchiffGold
US Debt
Debt Analysis

And the debt spiral continues...

Sept Trade Deficit Smashes June Record by 10.5%

SchiffGold
US Debt
Trade Deficit

Exported Goods Collapse

Hedge Funds Increase Net Longs 180% in Gold and 726% in Silver During October

SchiffGold
Comex
COTS Analysis

Gold and Silver Bulls Finally Show Up

November Comex Delivery Analysis

SchiffGold
Gold Silver
Comex Results

Silver continues downward trend while Gold October is hard to categorize

Did the Fed Experiment with a Mini-Taper and Fail?

SchiffGold
US Debt
Fed Balance Sheet

Fed Balance Sheet Now Exceeds $8.5T

M2 Grows Almost 10% Annualized and Nears $21T

SchiffGold
US Debt
Money Supply

13 Week Money supply has begun accelerating again

Fiscal Spending up 18.7% MoM and 4.1% YoY

SchiffGold
US Debt
Budget Deficit

Increased tax revenues created a temporary windfall for the Treasury

Price Analysis: Gold Diverges from Bonds as Critical Test Looms at $1800

SchiffGold
Gold Silver
Pricing Analysis

Rising gold in the face of rising yields is a very bullish

Comex Countdown: Quiet Before the Storm?

SchiffGold
Gold Silver
Comex Countdown

October and November are quietly showing strength

Gold and Silver Comex Vaults Both See 1% Fall in Total Inventory

SchiffGold
Gold Silver
Comex Stock

Recent trends of declining inventory continues

A More Accurate CPI is up .97 MoM and 7.1 YoY

SchiffGold
US Debt
Inflation

The Fallacy of Owners Equivalent Rent

Another Big Jobs Miss: All but two categories are below the 12 month trend

SchiffGold
US Debt
Employment

Economy adds a meager 194k vs 500k expected

Surge in Services Imported Sends Trade Deficit to New Record

SchiffGold
US Debt
Trade Deficit

Imported Goods was close to record while Imported Services jumps

Hedge Fund Pile into Short Positions During September

SchiffGold
Comex
COTS Analysis

Both gold and silver see massive draw downs in Managed Money Net Longs

Delivery Results: Silver Down and Gold Mixed

SchiffGold
Gold Silver
Comex Results

Silver continues downward trend while Gold October is hard to categorize

Fed absorbs 60B of 1-5 Year US Treasuries in September

SchiffGold
US Debt
Fed Balance Sheet

Fed adds another 115B to the balance sheet in Total

M2 Grows at Fastest Pace Since February

SchiffGold
US Debt
Money Supply

M2 increased at an annual rate of 16.5% in September

Aug 2021: Gold & Silver Bullish or Bearish?

SchiffGold
Gold Silver
Pricing Analysis

Is the HUI signaling a down move?

Comex Countdown: Will Gold Lead Silver Higher

SchiffGold
Gold Silver
Comex Countdown

Gold has seen physical demand increase while silver is still drifting lower

Gold and Silver both drain from Comex Inventory

SchiffGold
Gold Silver
Comex Stock

Recent trends of declining inventory continues

Based on the data, the dip in CPI may prove "transitory"

SchiffGold
US Debt
Inflation

The shuttering of the economy appears to be the main driver for a lower than expected CPI

US Budget Deficit is 171B in August

SchiffGold
US Debt
Budget Deficit

Tax revenues are down, but spending has fallen more rapidly in HHS and SBA

US Budget Deficit is 171B in August

SchiffGold
US Debt
Budget Deficit

Tax revenues are down, but spending has fallen more rapidly in HHS and SBA

Did the Treasury raid 250B from Government Retirement Accounts (again)?

SchiffGold
US Debt
Debt Analysis

With the debt ceiling in place, the Treasury is using "extrodinary" measures to keep the Government funded

Commitment of Traders shows a potentially very bullish setup in Gold and Silver

SchiffGold
Comex
COTS Analysis

The most recent washout was larger in relative size than the Covid washout

Big Jobs Miss: Leisure and Hospitality add zero jobs

SchiffGold
US Debt
Employment

Economy adds a meager 235k vs 720k expected

Jul MoM Trade Deficit Shrinks but TTM hits New Record

SchiffGold
US Debt
Trade Deficit

-807B Trailing Twelve Month Trade Deficit is largest ever

Delivery Results: Gold and Silver both Underwhelm

SchiffGold
Gold Silver
Comex Results

After a decent showing for August futures, both metals have fallen to 12 month lows

While Fed Talks about Taper, Balance Sheet Grows 111B in Aug

SchiffGold
US Debt
Fed Balance Sheet

Fed adds almost 85b in Treasuries and 53B in MBS

MoM Money Supply rebounds but trend is down

SchiffGold
US Debt
Money Supply

13 week annualized growth is collapsing

Sep 21 Delivery Countdown

SchiffGold
Gold Silver
Comex Countdown

Gold shows life, Silver is mixed

Aug 2021: Gold & Silver Bullish or Bearish?

SchiffGold
Gold Silver
Pricing Analysis

Is the HUI signaling a down move?

Comex Inventory Aug

SchiffGold
Gold Silver
Comex Stock

Gold slowly drains but Silver surges

US Deficit increases 73% MoM in July as tax season ends

SchiffGold
US Debt
Budget Deficit

Some spending categories are starting to normalize, but the US has reached a new normal in spending

CPI 2021-07: Many price categories are still increasing

SchiffGold
US Debt
Inflation

The Fed is hoping inflation is transitory because it cannot implement tools to fight it

Jobs 2021-07: Government Jobs Account for almost a quarter of gains

SchiffGold
US Debt
Employment

The labor market continues to recover, probably due to expiring unemployment benefits

Trade Deficit Jun 21 sets New record of 75.7B

SchiffGold
US Debt
Trade Deficit

June 2021 Trade Deficit sets a new record, eclipsing previous record in March

US Debt 2021-07: Total Debt Shrinks by 101B into Debt Ceiling Saga

SchiffGold
US Debt
Debt Analysis

Why did they treasury allow debt to mature rather than using the limitless debt ceiling to increases cash positions?

CFTC COTS Analysis July 2021

SchiffGold
Comex
COTS Analysis

Gold longs increase while silver longs decrease.

Comex Results: August 2021 Deliveries

SchiffGold
Gold Silver
Comex Results

Silver stays strong, Gold deliveries continue to fall

Fed Balance Sheet: July 2021

SchiffGold
US Debt
Fed Balance Sheet

The latest month of 143B added was above average

Money Supply July 2021

SchiffGold
US Debt
Money Supply

Money Supply Growth Rate Collapses

Comex Countdown: Mid July 2021

SchiffGold
Gold Silver
Comex Countdown

Silver off-month rises

Gold and Silver Pricing Update: Mid July 2021

SchiffGold
Gold Silver
Pricing Analysis

Gold 50 DMA attempts to breakthrough 200 DMA

US Budget Deficit Analysis: June 2021

SchiffGold
US Debt
Budget Deficit

Spending continues to outstrip taxes by a wide margin

US Debt Analysis: June 2021

SchiffGold
US Debt
Debt Analysis

Treasury converting short term debt to medium term

Comex Stock Update: July 2021

SchiffGold
Gold Silver
Comex Stock

Silver continues to drain, Gold sees more supply come in

Trade Deficit Analysis: May 2021

SchiffGold
US Debt
Trade Deficit

Trade Deficit falls just short of record $75B in March 2021

Comex June/July 2021 Update

SchiffGold
Gold Silver
Comex Countdown

Silver nears records, Gold losing momentum

The Fed in a Box, Part 2: They cannot end Quantitative Easing

SchiffGold
US Debt

The recent fall in long-term rates may have been by design and is probably transitory

The Fed in a Box, Part 1: They cannot raise interest rates

SchiffGold
US Debt

Higher interest rates would create a massive burden on the Treasury as the cost to service debt would increase dramatically

Setting up an AWS analytics server and API in minutes

The steps to stand up an AWS server that can be used to host an analytics dashboard and/or a data feed API

Why Silver is different than GameStop

The Silver market started changing a year ago with increased physical delivery

What is the Comex

SchiffGold
Gold Silver

Informational post to provide context for Comex Updates

The Ultimate Dollar Cost Averaging Strategy

Investing
etrader
Packages

Dollar cost averaging is designed to invest by reducing the risk of market timing. Use etrader and AWS to automatically invest a set amount on each trading day.

Automated trading and investing using RStudio on AWS

Investing
rameritrade
etrader
Packages

Set up a trading server in minutes. R offers multiple packages that connect to trading APIs. Trading scripts can be deployed and fully automated, for 12 months free and $3 a month thereafter.

Analyzing the S&P 500 with FMP

Analysis
Packages
fmpcloudr

Financial Modeling Prep (FMP) is a new service that offers a range of financial metrics through an API. Use fmpcloudr to access the data and analyze it in R.

Trade on TD Ameritrade with R

Packages
Trading
rameritrade

Execute trades through TD Ameritrade using the `rameritrade` package in R. Zero previous programming experience required!

Target Asset Allocation

Investing

Stocks have the best track record, especially in the US. Bonds have limited upside with lots of downside. Gold is the best insurance policy.

Analyzing the US Debt

Investing
Analysis

The US Federal Government has an unsustainable growth in debt. Can it continue longer than most think? When will the US Debt bubble pop?

Homeownership Opportunity Cost

Investing
Compounding
Housing

Part 3 of 3: Is buying a home the great investment everyone believes it is?

Average Stock Market Returns

Investing
Compounding
Stock Market

Part 2 of 3: The market looks expensive and due for a correction, is it worth waiting? What does history show about investing at different times.

The Power of Compound Interest

Investing
Compounding

Part 1 of 3: Is your daily coffee costing you $1,000,000?

Libertarian Part 4: Moving Forward

Living in a world that feels backwards

Libertarian Part 3: The Greatest Failed Experiment

Limited government proved too succssful for its own good

Libertarian Part 2: Fiscally Conservative

Governments are expensive, inefficient, and distort markets

Libertarian Part 1: Socially Liberal

Government is immoral because it violates self-ownership

Exploring Finance

Why I started a blog in 2020

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