Peter’s Blog

Who produces the world’s gold? Gold mine production was up modestly in 2022, but it remains below the prepandemic peak.

Last week, Mississippi Governor Tate Reeves signed a bill into law exempting the sale of gold and silver from the state sales tax. Repealing the sales tax will relieve some of the tax burdens on investors, and take a step toward treating gold and silver as money instead of as commodities.

The Conference Board Leading Economic Index (LEI) for the US fell by 1.2% in March. It was the 12th straight month of declines in the LEI.

Silver demand set a record in every category last year based on final data released by the Silver Institute this week. Total global silver demand in 2022 came in at a record $1.242 billion ounces. This represented an 18% increase in silver demand over 2021.

Arkansas Gov. Sarah Huckabee Sanders has signed a bill into law making gold and silver legal tender in the state. The new law also effectively repeals the state capital gains tax on gold and silver. Enactment of this legislation will relieve some of the tax burden on investors, and take a step toward treating precious […]

After ending 2022 on an upward trend, China’s gold market continued to rebound during the first quarter of 2023. Wholesale gold demand in China during Q1 hit the highest first-quarter level since 2019. Meanwhile, gold imports charted the strongest start to a year since 2015.

Gold was up 9.2% to a quarterly average of $1,980 an ounce in the first quarter of 2023. This was just 1% off the record high charted in Q3 2020.

For the first time in 10 months, gold flowed into ETFs in March with global gold ETFs recording net inflows of 32 tons, representing an increase of about $1.9 billion.

American consumers continued to pile on debt in February, but the pace of borrowing slowed significantly, another sign the economy could be heading toward a recession. Overall, consumer debt grew by $15.3 billion in February, a 3.8% annual increase, according to the latest data from the Federal Reserve. That compares with an upwardly revised 19.5 […]

Bills introduced in the Texas House and Senate would create a state-issued, gold-backed digital currency. Enactment of this legislation would create an option for people to transact business in sound money, set the stage to undermine the Federal Reserve’s monopoly on money and create a viable alternative to a central bank digital currency (CBDC).