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POSTED ON June 13, 2018  - POSTED IN Key Gold Headlines

Over the last 12 months, the purchasing power of your dollar has dropped at the fastest rate since 2011.

According to the latest data released by the Bureau of Labor and Statistics, the Consumer Price Index (CPI) jumped by 2.8% year-over-year in May. That follows on the heels of a 2.5% leap year-over-year in April.

In other words, prices are going up. That’s not good news for people who buy stuff.

POSTED ON June 12, 2018  - POSTED IN Videos

World Gold Council chief market strategist John Reade recently talked to Commodity TV about the current state of the gold market and what he sees in the future.

Reade cast an optimistic tone, saying the supply and demand fundamentals point toward a healthy, growing gold market moving forward.

POSTED ON June 4, 2018  - POSTED IN Key Gold Headlines

Not everybody in the mainstream is bullish on the dollar and expecting rate hikes as far as the eye can see. In fact, the global head of commodities at TD securities sounds a little like Peter Schiff.

In his podcast last week, Peter said that the recent dollar strength is nothing more than upside correction in the midst of a bear market, emphasizing that the primary trend is down. He also said he thinks the Fed may be near the end of its hiking cycle.

POSTED ON May 29, 2018  - POSTED IN Key Gold Headlines

In his most recent podcast, Peter Schiff hit a number of subjects including oil prices, bond prices, Bitcoin, the dollar and tariffs. Peter said he thinks we’re seeing a lot of movement in a number of markets that are counter to the long-term trends. For instance, oil dropped late last week, but he expects it’s long-term trend to continue upward. The dollar has picked up strength, but the broader trend is toward a weaker dollar. And bond yields fell, but the overall trajectory for interest rates is up.

POSTED ON May 25, 2018  - POSTED IN Key Gold Headlines

Earlier this week, I shared a story about my wife finding a bag of change in the attic of her grandparent’s old house that turned out to be worth over $2,000. The dimes, quarters and half-dollars in the bag were all minted before 1965. In other words, they were all made primarily of silver. The value of the metal in these so-called junk silver coins is now worth far more than their face value. This demonstrates just how much the Federal Reserve has devalued your money.

One way we measure this devaluation of money is by the inflation rate. Practically speaking, rising inflation simply means we are losing purchasing power. Our dollar buys less and less as time moves on. This puts the squeeze on all of us – even the Tooth Fairy.

POSTED ON April 24, 2018  - POSTED IN Key Gold Headlines

Conventional wisdom holds that rising interest rates are bad for gold. The fact that the Federal Reserve has been nudging rates up over the last couple of years has accounted for a lot of the bearishness in the gold market. But the conventional wisdom doesn’t line up with the current reality. Even as the Fed has hiked rates, the price of gold has gone up – increasing by 8.5% since the Federal Reserve’s first rate hike of this cycle in December 2017.

A recent report issued by the World Gold Council indicates that gold investors focused primarily on interest rates are looking in the wrong place. They need to be watching the dollar.

Our analysis shows that the correlation between gold and US rates is waning and that the US dollar is again a stronger indicator of the direction of price. And, in our view, this will continue over coming months.”

POSTED ON April 17, 2018  - POSTED IN Key Gold Headlines

In his latest podcast, Peter Schiff said we are basically enjoying the calm before the storm right now.

With the US missile strike in Syria, rumblings of a trade war and a generally weak dollar, gold briefly flirted with $1,365 last week. But the anticipation of Federal Reserve rate hikes continues to create strong headwinds against the yellow metal. Last week, the Fed released its March FOMC minutes and most analysts interpreted them as “hawkish.” In fact, many people now think the Fed will nudge rates up again in June, leaving six months to get in the much-anticipated third hike of the year and possibly even get in a fourth.

POSTED ON April 17, 2018  - POSTED IN Key Gold Headlines

Turkey went on a gold-buying spree in 2017 and that trend continued in the first two months of 2018.  Turkish President Recep Tayyip Erdoğan likes gold and it’s pretty clear the president has been pushing Turkey’s central bank to buy gold and reduce foreign currency reserves in an effort to move away from dependence on the dollar and euro.

On April 16, Erdoğan got a little more overt in his apparent quest to dethrone the dollar, suggesting international loans should be made in gold instead of greenbacks in order to prevent exchange rate pressure on economies.

POSTED ON April 9, 2018  - POSTED IN Key Gold Headlines

The stock market continued its yo-yo ways on Friday. After three straight days of healthy gains, the Dow Jones Industrials fell 572 points to end the week, closing below 24,000. The Nasdaq also plunged, dropping 161 points.

Peter Schiff has been saying for weeks this is a bear market. Well, now even Pres. Trump has said investors may see some short-term pain in the stock market. But the president says it will all be worth it because we will get long-term gain, referring to the benefits we’ll reap when we win the trade war. In his most recent podcast, Peter said that’s not how it’s going to play out.

We’re going to have short-term pain and then the pain is going to get worse in the long-run.”

The big problem is, nobody is really ready for any pain at all.

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