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POSTED ON February 24, 2017  - POSTED IN Original Analysis

Joel BaumanThis article was submitted by Joel Bauman, SchiffGold Precious Metals Specialist. Any views expressed are his own and do not necessarily reflect the views of Peter Schiff or SchiffGold.

Today marks silver’s ninth consecutive week of higher nominal prices. Short coverings from yesterday’s rally is the reason behind silver’s higher price today. Commodity traders have been looking at the chart below and deeming silver as overbought. This is seen in the large short interest for silver, meaning traders are betting against silver’s price by shorting the market. Across silver futures, ETF’s, and OTC markets, there has been an increase in short positions.

POSTED ON February 23, 2017  - POSTED IN Key Gold Headlines

Today, we celebrate the birthday of Irwin Schiff, one of our nation’s most influential activists for free markets and limited government. Irwin was a proud, freedom-loving American who died a political prisoner in a Texas federal prison. Neither the irony of his passing nor his convictions escaped the millions of people Irwin inspired to become activists. He helped them understand the destructive consequences of an over-reaching and over-regulatory government.

POSTED ON February 21, 2017  - POSTED IN Key Gold Headlines

The price of gold is moving in contradiction to its economic purpose, which is to serve as an investor safe haven against inflation. Shortly after the election, the dollar index spiked as gold prices began a quick decline; however, recently the trend has reversed. Gold is now up around 7% since the Fed’s December rate hike, according to Bloomberg.

POSTED ON February 20, 2017  - POSTED IN Key Gold Headlines

In Peter Schiff’s latest podcast, Peter discussed the Consumer Price Index and retail sales reports released last week. Janet Yellen provided the data in a report to Congress. The chairwoman’s testimony brought on a new wave of optimism in the markets that interest rate hikes would be coming sooner than last year’s cycle of promise-then-disappoint.

POSTED ON February 17, 2017  - POSTED IN Key Gold Headlines

Yellen spoke to congress this week, and her remarks about the new Commander in Chief could be foreshadowing an upcoming battle between the Fed’s goals and Trump’s plan to weaken the dollar. The President also made amends with China’s President Xi Jinping, but has new problems to deal with as other foreign governments shed their US Treasury holdings.

POSTED ON February 16, 2017  - POSTED IN Original Analysis

Dan_Kurz_CFADan Kurz is a CFA with over two decades experience working in Zurich, Switzerland as a thematic strategist for Credit Suisse CIO Office. Dan’s site, DK Analytics, offers deep and broad analysis at the macro and micro level.

 

Spearheaded by legislative efforts in Utah, Texas, and Oklahoma, a substantial number of states have undertaken efforts to reinstitute gold and silver as money (according to the hyperlink-based sources, 24 have made efforts).  Numerous states are increasingly concerned about the nation’s Fed-based fiat monetary system, which debases the dollar, enables protracted, yawning deficit spending and trade deficits, and runs up huge, unpayable debts. With Utah, Texas, and Oklahoma blazing a trail back to constitutional money, states such as Louisiana, Arizona, South Carolina, and Kansas have been inspired to once again make gold and silver legal tender with which to conduct commerce in their jurisdictions.

POSTED ON February 15, 2017  - POSTED IN Original Analysis

Joel BaumanThis article was submitted by Joel Bauman, SchiffGold Precious Metals Specialist. Any views expressed are his own and do not necessarily reflect the views of Peter Schiff or SchiffGold.

This article is a comprehensive breakdown on SchiffGold’s most bought/sold silver products. I give my personal comments on each product and I give a brief final analysis to help buyers pinpoint the exact product that meets their goals and objectives.

Additionally, I wrote this for buyers seeking to take delivery or possession within the United States. International markets value some products differently. For clients seeking international silver holdings I recommend talking to your precious metals specialist.

POSTED ON February 14, 2017  - POSTED IN Key Gold Headlines

Fed Chairwoman Janet Yellen testified before Congress today with a hawkish tone that sent gold prices downward and bond yields upwards prior and during her testimony. Gold spot prices were down around $11/oz. toward the end of Yellen’s testimony. The 10-year note rose to 2.5% from 2.43% while the 2-year note yield jumped to as high as 1.25 % from a low of 1.18% during her speech, according to CNBC.

Yellen’s comments strengthened the likelihood of interest rate increases for the foreseeable future, stating that “waiting too long” would be “unwise”. She qualified her comments with the warning that raising rates too rapidly could “risk disrupting financial markets and push the economy into recession.”

POSTED ON February 14, 2017  - POSTED IN Gold Scams Exposed

Last week 63-year-old Kenneth J. Plonski was charged in a Michigan court for defrauding the Copoco Community Credit Union of more than $70,000. Plonski claims he was also duped by a “friend” into wiring cash to Africa to buy gold. However, Plonski claims he never received any African gold.

The alleged scam is a classic case of “robbing Peter to pay Paul”. Plonski allegedly took out a mortgage with the CCCU in 2014 and began making his monthly payments. Court records show Plonski also used the mortgage to secure a Visa gift card with a $20,000 line of credit, according to a local Michigan network.