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Key Gold Headlines

Advances on the Swiss Gold Front (Video)

POSTED ON October 22, 2014  - POSTED IN Guest Commentaries, Key Gold Headlines, Videos

Last month we reminded you of the upcoming “Save Our Swiss Gold” initiative in Switzerland. This is a direct democracy vote in Switzerland that, if passed, would force the Swiss government to amend its constitution with respect to the way the Swiss National Bank (SNB) operates. These are the major points:

  1. SNB will repatriate and store all Swiss gold reserves in Switzerland.
  2. SNB will purchase gold until it makes up 20% of their reserves (currently 7.8%), and it must maintain this level of gold reserves.
  3. SNB can no longer sell gold reserves.

Switzerland used to be the first country that came to mind when it came to stable currencies and gold holdings. But things have really gone down hill since the turn of the millennium, as you can see in the chart below. It shows the dramatic amount of gold the SNB has sold off since 2000 – well over half of its holdings.

Get Ready for QE Forever

POSTED ON October 17, 2014  - POSTED IN Key Gold Headlines, Original Analysis

Peter Schiff has been one of the few voices of reason warning that the Federal Reserve is going to re-start its quantitative easing by mid-2015, as well as keep interest rates at zero until there is a currency crisis. With the recent market turmoil, economists around the world are beginning to realize that Peter is right – more QE is needed. Even St. Louis Federal Reserve Bank President James Bullard says that another round of quantitative easing might be in order. In an interview on Bloomberg, Bullard said:

A Stormy October, but Not for Gold

POSTED ON October 16, 2014  - POSTED IN Key Gold Headlines, Original Analysis

Is the world waking up to the economic reality Peter Schiff has been warning about all year long? With the current chaos in the stock market and rise in the price of gold, mainstream commentators and economists around the world are starting to wonder if stocks really are in bubble territory. All sorts of technical indicators are driving speculative investors to seek the safe-haven of gold. Take a look at some of these ominous indicators highlighted by the Economic Collapse Blog:

  • The S&P 500 and Nasdaq Composite experienced the worst three-day decline since 2011.
  • The price of oil is plummeting, which happened just before the 2008 financial crisis. Oil hasn’t been this cheap for two years.
  • The Volatility Index (VIX) is at its highest since the European debt crisis, indicating a lots and lots of fear on Wall Street.

US Mint’s Bullion Sales Double in September

POSTED ON October 9, 2014  - POSTED IN Guest Commentaries, Key Gold Headlines, Videos

Former US Mint director Ed Moy appeared on Fox Business this week to talk about the popularity of gold as a safe-haven investment. Moy noted that in spite of ongoing negative sentiment toward the yellow metal, people in both the East and West continue to buy it. In fact, the US Mint’s gold bullion coin sales doubled in September versus August, showing that investors see gold’s depressed price as a buying opportunity.


Welcome to SchiffGold!

POSTED ON October 2, 2014  - POSTED IN Key Gold Headlines

Euro Pacific Precious Metals is now SchiffGold. Below you will find a personal message from our Chairman Peter Schiff.

We’re proud to announce this new responsive website and a new brand that is clear and simple, just like our business philosophy. We are committed to bringing you the lowest prices on investment-grade gold and silver, along with the highest quality customer service in the industry. Call and speak with one of our Precious Metals Specialists to learn more: 1-888-GOLD-160 (1-888-465-3160).

Follow us on Twitter to stay up-to-date on Peter Schiff’s latest thoughts: @SchiffGold
Interested in learning about the best ways to buy gold and silver?
Call 1-888-GOLD-160 and speak with a Precious Metals Specialist today!

The Swiss Want Even More Economic Freedom (and Gold)

POSTED ON September 24, 2014  - POSTED IN Key Gold Headlines

Switzerland is ranked as the freest economy in Europe in the 2014 Index of Economic Freedom, published by the Heritage Foundation in partnership with the Wall Street Journal. In the world rankings, Switzerland is the 4th most economic free country. While the United States Federal Reserve argues that inflation is necessary for economic stability, it should be noted that Switzerland has achieved its economic freedom with a current inflation rate of negative 0.7%. That means consumer goods are getting cheaper for the average Swiss citizen every year. Try to wrap your head around that, Janet Yellen. And while you’re at it, explain why the United States isn’t even in the top 10 freest economies in the world.

14 09 24 Flag_of_Switzerland

Yet in spite of this relative prosperity, the Swiss populace is not satisfied. They want more freedom and are getting ready to demand more economic responsibility from their central bank, the Swiss National Bank (SNB). This fall, the citizens of Switzerland will be voting on a referendum that would dramatically alter the SNB’s gold bullion allocations and holding policy.

Destroying the Dollar a Penny at a Time

POSTED ON September 19, 2014  - POSTED IN Key Gold Headlines

A recent article on the Wall Street Journal’s blog draws attention to the high cost of producing a single penny – 1.6 cents each, to be exact. They blame this unsustainable price on the high cost of zinc, which makes up 97.5% of every American penny. The online publication Quartz ran with this story, giving it a new headline: “It costs 1.6 cents to make one penny because of the rising price of zinc”. Time for a short economics lesson.

An alternate, more accurate headline for this story would be, “It cost 1.6 cents to make a penny because of currency debasement.” Rather than pondering whether or not the United States should simply stop producing pennies to save money, Americans should really be thinking about the long-term effects of currency debasement that has been going on for generations.

14 09 18 dollars and change

Eastern Gold Reserves Are Growing and Growing…

POSTED ON September 16, 2014  - POSTED IN Key Gold Headlines

Listening to the financial media, you might be convinced that the precious metals – gold in particular – are simply not considered reliable investments anymore. This is a viewpoint peculiar to the West, as Peter Schiff has repeatedly emphasized. However, every now and then, the mainstream media shares some news reminding us that while Americans and Europeans might be disenchanted with the yellow metal, other countries are still very concerned with protecting their savings with the hard asset that has served as a safe-haven for thousands of years. Often that news comes from countries that have a much longer history of troubled economies, and therefore a greater understanding of what assets carry real value in this world.

Today, for instance, Bloomberg published two stories about central bank and Chinese gold demand. In the first, “China May Boost Gold Reserves Amid Imbalances in Holdings“, Bloomberg reports on research from the London-based Official Monetary and Financial Institutions Forum. David Marsh, managing director of the Forum, reminds us that while China hasn’t officially announced an increase in its gold reserves since 2009, there is a good chance that it will very soon. Marsh vaguely suggests that China has been adding to its reserves since 2009 “in different ways.”

Is the World at ‘Peak Gold’?

POSTED ON September 9, 2014  - POSTED IN Key Gold Headlines

This week, Chuck Jeannes told The Wall Street Journal that either this year or next, miners will have reached “peak gold.” Peak gold means that the amount of gold being pulled out of the earth will begin to shrink every year, rather than increase, which has been the case since the 1970s. Jeannes is the chief executive of the world’s largest gold mining company, Goldcorp, so it’s probably safe to assume he knows a thing or two about mining the yellow metal.

Let’s put this into context. Central banks continue to stockpile gold (even Scotland is wondering how much of the United Kingdom’s gold it will get if it becomes an independent country). Nobody knows how much gold China is hoarding, but pretty much everyone assumes it’s a lot more than the official reports. Smart economists like Peter Schiff and Jim Rickards have been pointing out for a year now that gold buyers throughout Asia are accumulating more and more gold from Western investors, and they have almost no intention of selling it.

For physical precious metals investors, all of this news should hit home. What happens when this robust demand for gold runs up against the hard limits of the mining industry? This is simple supply and demand – prices go up.

As gold production declines, the miner’s job becomes harder, as companies compete for increasingly rare deposits. Discoveries have already tapered off. In 1995, 22 gold deposits with at least two million ounces of gold each were discovered, according to SNL Metals Economics Group. In 2010, there were six such discoveries, and in 2011 there was one. In 2012: nothing.”

Read the Full Article Here

14 09 09 gold mine

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Interested in learning about the best ways to buy gold and silver?
Call 1-888-GOLD-160 and speak with a Precious Metals Specialist today!

The Amazing World of Silver Technology

POSTED ON September 5, 2014  - POSTED IN Key Gold Headlines

The Silver Institute’s August edition of Silver News is now available. This issue explains the fundamentals behind the surging growth in demand for industrial silver, which is expected to exceed global GDP growth through 2016. The constantly evolving industry for silver technology is largely to thank for this increasing demand. August’s Silver News highlights some of the fascinating new applications of silver, including:

  • Two forms of 3D printing with silver
  • Using heated nanosilver to treat cancer
  • Screen-printed silver circuits that cure in UV light
  • Antibacterial silver on home hardware products

You’ll also find an explanation of how silver is used as an essential chemical catalyst in the production of ethylene oxide (EO), which in turn is needed to create ethylene glycol. Ethylene glycol is one of the most important substances in our modern world.

Ethylene glycol, in turn, is used to produce many products including polyester fibers for clothes and carpets, plastics, solvents and other chemicals, and even antifreeze formulations. By itself, EO is used to sterilize many health-care products and medical instruments, including delicate electronic or optical tools, which would be harmed by the high heat or radiation sterilization processes. EO is also used to accelerate the aging of tobacco leaves, as a fungicide, and even as a preservative for spices.”

Read Silver News Here

14 09 05 tanaka silver circuit

Image: Tanaka’s printed silver circuit board.

Follow us on Twitter to stay up-to-date on Peter Schiff’s latest thoughts: @SchiffGold
Interested in learning about the best ways to buy gold and silver?
Call 1-888-GOLD-160 and speak with a Precious Metals Specialist today!