Precious metals news

This analysis focuses on gold and silver data provided by the Comex/CME Group. See the article What is the Comex for more detail.
First Position Day is when contracts must post 100% margin to stand for delivery. Once delivery begins, contracts can settle in cash or more contracts can be opened and stand for immediate delivery (usually a sign of strong physical demand). Figure 1 below shows the last 24 months of silver delivery data when compared to First Position and the day before First Position. As shown, Open Interest falls significantly between the two days. This can be seen more clearly in Figure 4 below, the Open Interest countdown chart.

The IRS has issued more than 169 million payments in the third round of direct stimulus aid, with another 2.3 million people last month receiving the $1,400 checks. But some lawmakers are pushing for a fourth round of stimulus aid that would effectively send recurring payments until the pandemic ends.

About 38% of people who got their first installment of benefits in June had waited more than three weeks, the official barometer for a "timely" payment.

This analysis focuses on gold and silver data provided by the Comex/CME Group. See the article What is the Comex for more detail.
First Position Day is when contracts must post 100% margin to stand for delivery. Once delivery begins, contracts can settle in cash or more contracts can be opened and stand for immediate delivery (usually a sign of strong physical demand). Figure 1 below shows the last 24 months of silver delivery data when compared to First Position and the day before First Position. As shown, Open Interest falls significantly between the two days. This can be seen more clearly in Figure 4 below, the Open Interest countdown chart.

Jul.29 -- Former Federal Reserve Bank of Philadelphia President Charles Plosser discusses the high inflation in the U.S. and the implications for monetary policy. He speaks with Kathleen Hays and Shery Ahn on

Gold prices held firm near a two-week high on Friday, heading for their biggest weekly gains in more than two months.

The dollar languished near a one-month low on Friday and was poised for its worst weekly performance since May as dovish remarks by the U.S. Federal Reserve together with underwhelming economic data took the steam out of a month-long rally.

While most economists were keenly focused on today's core PCE data in the Personal Income and Spending data, we were far more interested in the spending power left inside the dynamo that is responsible for 70% of US GDP: the US consumer. And unfortunately, there is very little left.

The final July UMich sentiment survey was not expected to improve at all over the disappointing preliminary print, which showed a drop in confidence across the board (even among Democrats), and they were basically correct with a very small improvement over the mid-month reading but all still down on the full month...

It isn’t buying whole neighborhoods; it’s buying whole new subdivisions of built-to-rent houses.

Inflation ate my homework: All this stimulus, so little to show for.

Have you been watching the Olympics? I've always loved the Olympic Games. There's always so much drama as the best athletes in the world compete for gold.
But did you know they are mostly competing for silver?
True story. There is very little gold in an Olympic gold medal.

The Federal Reserve has three primary tools to conduct Monetary Policy: reserve requirements, the discount rate, and open market operations (Quantitative Easing). Open market operations are how the Fed uses its balance sheet to provide liquidity to the market. More details can be found here. The Fed defines Open Market Operations as:

The Federal Housing Finance Agency announced that Fannie Mae and Freddie Mac are extending the moratorium on single-family real estate owned evictions until September 30, according to a press release. President Joe Biden asked Congress on Thursday to act swiftly to extend the ban on evictions, set to expire on July 31.

The eviction moratorium ends July 31. Millions of households are behind with no confidence in making payments.

The Federal Reserve held its July meeting this week. Once again, it didn't do anything. But there was certainly plenty of talk to dissect. In this episode of the Friday Gold Wrap, host Mike Maharrey does just that with some analysis of the messaging coming out of the Fed meeting, along with a look at the newly released GDP numbers.

Excessive government spending and mounting national debt will likely trigger a financial crisis in the next 18 months, economist Stephen Moore warned on July 28.

RRP volume is quickly approaching $1 trillion a day, with today's reverse repo usage hitting the second highest on record at $987.3 billion and just shy of $1 trillion.

This was slightly lower than expected (if that is any silver lining) but still doesn't look very transitory.

That is the question posed by Deutsche Bank credit strategist Jim Reid who plotted three real yield series;