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POSTED ON June 4, 2013  - POSTED IN Original Analysis

By Peter Schiff

That’s all, folks. One look at the headlines will tell you the gold bull market is officially over: the stock market is booming, a modest recovery of the US economy is underway, and the dollar is dominating the forex. Time to sell your bullion and get back into US stocks!

Does anyone really believe this story at this point? Haven’t we been through this time and again since 2008? Remember “green shoots”?

The sad truth is that American investors, accustomed to a world of rising stock and housing prices for several generations, are experiencing short-term memory loss. It’s as if their longing for the “good old days” has made them subconsciously suppress any unpleasant memories.

POSTED ON June 4, 2013  - POSTED IN Original Analysis

By Jeff Clark from Casey Research

Platinum is a precious metal, as is palladium, though to a lesser degree. However, like silver, both are also industrial metals. Unlike silver, it’s their industrial use that is the primary price driver for both platinum and palladium – and that use is undergoing a fundamental shift.

The largest source of demand for platinum and palladium is the automotive industry, for use in autocatalysts. In turn, the fortunes of the auto industry are sensitive to the health of the world’s major economies. We’ve been bearish on platinum-group metals for years, primarily because we weren’t convinced a healthy – much less roaring – world economy could be sustained when so many governments continue spending beyond their means.

POSTED ON June 3, 2013  - POSTED IN Original Analysis, Videos

In his latest video blog, Peter Schiff picks apart the data the media keeps touting as proof of a recovery. He analyzes the Federal Reserve Advisory Committee’s latest meeting minutes in which they admit quantitative easing has been a failure, confirming all the claims Peter has made for years about the real effects of QE. Peter also talks a bit about a possible bottom in the gold price after a drop in the spot price on Friday corresponded with the biggest weekly gain for gold stocks since January 2012.

[The Fed’s Advisory Council is] admitting that the Fed’s monetary policy has not been effective. It hasn’t produced legitimate economic growth. All it’s done is inflate asset bubbles that have made us feel good, that have made us borrow too much money and spend too much money. The Fed has completely distorted the market, and that when the QE stops it’s going to be a complete disaster. That’s basically what they say. The party’s going to end and it ain’t going to be fun.”

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POSTED ON June 1, 2013  - POSTED IN Lampoon the System

13 06 Unintended Consequences
Jon Pawelko publishes the web comic Lampoon The System to poke fun at insane economic policies and educate the public on sound economics.
Click here for more cartoons and information on his anthology book, available for only $15.

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!

POSTED ON May 31, 2013  - POSTED IN Key Gold Headlines, Peter's Blog

Gold Boasts Biggest Weekly Gain Since 2011
Reuters – From a two-year low of $1,321 on April 16th, gold climbed to $1,471.05 on April 25th, making for the largest weekly price gain since October 2011. Continued strong fundamentals have contributed to gold’s recovery, including huge physical demand in Asia that has depleted supplies and raised premiums. Central bank purchasing has also supported gold’s price, with Turkey’s April gold imports reaching the highest level since July of last year.
Read Full Article>>

Eastern Hemisphere Physical Gold Rush Strains Supplies, Raises Premiums
Bloomberg & Reuters – Retail consumers worldwide scrambled to buy gold at its lowest price in two years, even as holdings in gold ETFs dropped dramatically. China and India, the world’s largest gold consumers, had the greatest growth in demand, with retailers struggling to cope with dwindling and delayed supplies. The new demand is responsible for gold premiums soaring across Asia. In Turkey and the Middle East, which represented almost 10% of global gold demand last year, premiums are their highest in years. While large portfolio investors are selling gold on fears of a price collapse, physical buyers see an opportunity to invest before the price rises again.
Read Full Article On Middle East>> On Asia>>

Mint Gold Sales Skyrocket Worldwide
Bloomberg – After the biggest gold price drop in thirty years, mints around the world have experienced an explosion in gold sales. The US Mint’s April gold coin sales are their highest since December 2009, forcing it to suspend sales of its 1/10-ounce gold coin, which had seen a doubling of demand from last year. In Australia, the Perth Mint remained open through the last weekend of the month in order to meet demand, due to the highest sales since 2008.  
Read Full Article On US Mint>> On Perth Mint>> (link unavailable for “On Royal Mint”. Took out final sentence of “In the United Kingdom, the Royal Mint’s April gold sales more than tripled from last year, and it is increasing production to meet demand.”)

Bond Dealers See No Quick End to QE
Bloomberg – The primary bond dealers that trade with the Federal Reserve do not expect the Fed’s monthly $85 billion quantitative easing program to end by the last quarter of 2013, according to a Bloomberg News survey. Many of the dealers don’t expect the bond purchasing to end until mid-2014 or later, and predict the record low interest rate target won’t be raised to 0.25% until June 2015. While some dealers say QE is necessary to hold inflation in check, critics maintain that the program doesn’t create jobs and raises the risk of asset bubbles. The Fed has already injected $2.5 trillion into the economy in an attempt to achieve full employment and price stability, but the economy remains stagnant.
Read Full Article>>

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POSTED ON May 28, 2013  - POSTED IN Guest Commentaries, Interviews

Forbes just published an exclusive interview with Ron Paul, conducted by Kitco News. Paul spoke about how precious metals investors shouldn’t get caught up watching the short-term trends in gold. Instead, he keeps an eye on the failing purchasing power of the dollar.

“‘It is up and down, and it has been doing that a lot lately,’ Paul said. ‘If (investors) are in gold for a short time to make a quick killing that ought to make them very nervous,’ he said of gold’s recent correction in April…

Paul said that historically there have been high periods of volatility but it is important to look past these short-term corrections. Looking back, Paul reflected that in the 1970s gold went up to almost $200 an ounce then plummeted back down to close to $100 an ounce two years later.

‘Everybody thought the world had ended for gold,’ he said. Paul added these should have been seen as simply corrections in a roaring bull market.”

Read the Full Interview Here

Get Peter Schiff’s latest gold market analysis – click here – for a free subscription to his exclusive weekly email updates.
Interested in learning more about physical gold and silver?
Call 1-888-GOLD-160 and speak with a Precious Metals Specialist today!

POSTED ON May 23, 2013  - POSTED IN Gold Scams Exposed

This week, we’re reporting on one of the wackier gold scams that’s arisen amidst the recent gold buying frenzy: scammers in British Columbia have been trying to sell gold that was (allegedly) smuggled into the United States from Iraq, where it was (allegedly) first owned by Osama Bin Laden. These scammers operate in parking lots, using high-pressure sales tactics. They’ve succeeded in selling hundreds of dollars of fake gold to one customer, and outright stole gold off another man by switching his genuine gold chain with a fake one.

There’s so much wrong with this scenario. Right off the bat, you should be highly suspicious of any gold dealer who’s doing business in a parking lot or similarly non-professional environment.

POSTED ON May 19, 2013  - POSTED IN Original Analysis

By Mike Finger

June marks the beginning of summer – a season of beach vacations, garden bounties, and general disinterest in the market. It is well-known that precious metals and other commodities typically face malaise at this time of year as speculators unwind their trades and potential buyers spend their spare cash instead on hotel rooms and recreation.

But in recent years, June has come to mark a time of great rejoicing for those of us most passionate about a sound money economy. Last Sunday, many of us returned from what can only be described as the largest face-to-face alternative currency economy in the world. The Porcupine Freedom Festival just celebrated its tenth year, dubbed “PorcFest X,” with record attendance and alt-currency activity.

POSTED ON May 16, 2013  - POSTED IN Gold Scams Exposed

One of the most important questions when buying precious metals can also be one of the most confusing: how much should you pay for gold and silver? Precious metals retail pricing is based on the spot price of the metal at the time of the sale plus the premium surcharge, which can vary drastically from dealer to dealer. In the past, we’ve suggested that a fair premium on gold and silver bullion products is no more than 7% over spot.

However, with the recent correction in the prices of gold and silver, our previous 7% premium suggestion has become a little outdated, especially for silver. Physical precious metals demand is breaking records around the world as investors hurry to buy at bargain rates. This demand is straining supplies, and consequently premiums are rising everywhere.

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