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Peter’s Blog

POSTED ON July 30, 2019  - POSTED IN Peter's Blog

After claiming to be the greatest at just about everything, Donald Trump has finally found an area where he can stake a credible claim. By negotiating a disastrous budget deal with Democrats, the President could become the greatest creator of government debt in the history of the country.

While Trump is selling the two-year deal as a major victory because it increases military spending and removes the possibility of a government shutdown for two years, in reality, the agreement to suspend the debt ceiling and push annual deficits even further above the trillion-dollar mark may only succeed in destroying the Republican Party as we know it.

POSTED ON November 13, 2014  - POSTED IN Peter's Blog, Videos

In this SchiffGold exclusive video, Peter Schiff sits with Axel Merk at the recent New Orleans Investment Conference to discuss gold investing in the midst of the currency wars. Like Peter, Axel was one of the few analysts to warn of the 2008 financial crisis and he remains one of the few analysts independent from the mainstream “recovery” consensus. Their conversation covers the history of gold’s price performance, the upcoming Swiss Gold referendum, the role of physical bullion in a portfolio, and much more.

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>>

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 February 28, 2013  - POSTED IN Key Gold Headlines, Peter's Blog

Germany Repatriating Gold in Case of Currency Crisis
Forbes – Germany’s central bank announced plans to bring 50% of its total gold reserves back to Frankfurt from the US and France. 300 tons of gold will be moved from the NY Fed to the Bundesbank over the next seven years. A Buba spokesman said they would not be selling the gold, but storing it “in case of a currency crisis.” Germany is the second largest holder of gold in the world, and some claim the gold grab is in response to public pressure to have the reserves verified.
Read Full Article>>

US Mint Silver Sales Jump
ABC & Bloomberg – The US Mint temporarily sold out of its 2013 American Eagle silver bullion coins in the first two weeks of the year. When sales resumed at the end of January, 1.123 million ounces sold in one day – which will likely push sales to the highest monthly total since July 2010. Sales were driven by unexpected investor demand, which may be related to fears over the Fed’s QE3 Plus money-printing scheme.
Read Full Articles: ABC>> Bloomberg>>

Palladium and Platinum Hit 16- and 3-Month Highs, Respectively
Forbes & The Wall Street Journal – Palladium hit a 16-month high at the end of January, attributed to a suspected depletion of Russian stockpiles, as well as auto demand in the US and China. Experts expect palladium to remain one of the strongest performing metals due to tight supply and high demand. Meanwhile, platinum’s price spiked when the world’s largest producer announced closures of several South African operations. The drop in production is about 7% of total global platinum output. South Africa is a major source of both platinum and palladium.
Read Full Article>> WSJ>> (WSJ article is dead. I can take out all the references to Platinum and just make this about Palladium)

World Braces for Currency War
Bloomberg – Russia’s central bank is raising concerns about a potential renewed currency war on the horizon. Emerging markets are feeling the pain of loose monetary policies in richer nations; meanwhile, Luxembourg Prime Minister Jean-Claude Juncker has joined the governments of Sweden and Norway in paradoxically raising alarm over the euro’s strength. Russia’s fear is that emerging markets may respond by once again weakening their currencies to boost exports, triggering competitive currency devaluation. This is good for gold, but dreadful for global trade. When the finance ministers and central banks of the G-20 meet
Read Full Article>>

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 October 31, 2012  - POSTED IN Key Gold Headlines, Peter's Blog

Bridgewater’s Dalio Likes Gold, Breaks From Buffett 
Forbes – Ray Dalio, manager of one of the world’s most profitable hedge funds – the $120 billion Bridgewater Associates – likes gold, sees it as a useful inflation hedge, and thinks it belongs in any well-diversified portfolio. For Dalio, gold is “the alternative money.” Concerning Warren Buffett’s stated aversion to gold, Dalio believes the Oracle of Omaha is “making a big mistake.” His pronouncements bring Dalio into line with peer hedge fund juggernauts George Soros, John Paulson, and David Einhorn.
Read Full Article>>
  
Bank of America Sees $2,400 – no – $3,000 Gold
CNBC and Financial Post – Bank of America Merrill Lynch is internally conflicted about gold at the moment. Fortunately, only in a good way. In mid-September, Francisco Blanch, a global investment strategist with the bank, claimed the Federal Reserve’s open-ended QE3 would propel the yellow metal to $2,400 an ounce by late 2014. A week later, Stephen Suttmeier, an analyst with the bank, wrote in a note to clients that the secular trend more likely suggests around $3,000 an ounce by early 2014.
Read Full Articles: CNBC>> FP>> (Both CNBC and FP link went to same CNBC article– seems like issue with original publishing) 
  
Barclays Opens New Gold Vault in London

Reuters – In September, the British banking giant Barclays opened the first bank-owned bullion vault that London has seen in over five years. Barclays expects demand to come primarily from institutional investors and sovereign funds. The launch reflects the ever-growing appeal of precious metals among investors. For security reasons, the vault’s location is top secret. 
Read Full Article>>
 
Wealthy Investors Pile into Physical Bullion
Bloomberg – Deutsche Bank AG’s asset and wealth-management unit reports that more and more high-net-worth individuals are expressing interest in protecting their wealth from central bank-induced inflation by owning gold. Not all gold is equal, however. Physical trumps virtual. “For our ultra-high-net-worth clients, and a growing number of our high-net-worth clients who have significant liquidity, they are becoming increasingly concerned to have at least some of their exposure to this asset class in the form of allocated physical bullion itself, rather than the indirect exposure that an over-the-counter product offers,” says Mark Smallwood, head of Asia-Pacific wealth-management solutions. 
Read Full Article>>
  
EM Central Banks Yet Again Buy More Gold

MarketWatch – In what has become a monthly affair, emerging markets’ central banks continued to boost their gold reserves in July to mitigate the risk associated with holding too many dollars and euros. Turkey added 44.7 metric tons, Russia added 18.6 tons, South Korea added 15.5 tons, and Kazakhstan added 1.4 tons. Ukraine and Kyrgyzstan added 0.2 and 0.1 metric tons, respectively. Market participants say the purchases are an important support for the price of the yellow metal. 
Read Full Article>>

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!

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