Peter's Blog

Greek Bank Closures & Capital Controls; Puerto Rico Heads Towards Default

Greece has closed its banks and instituted capital controls. The measures will remain in effect until at least July 6th, the day after a popular referendum on European bailout aid is due to take place. Rather than agree to further austerity measures in exchange for an extension of financial aid from its international creditors, Prime […]

Silver Bullion – Just $1 an Ounce! (Video)

Mark Dice walked around downtown Encinitas, California and tried to sell a 10-ounce bar of silver for only $10. At today’s prices, that bar is worth about $160. He asked men and women, young and old, if they’d like to buy it. He even lowered the price to $1 while standing directly out front of […]

SchiffGold on YouTube (Video)

Did you know SchiffGold has a YouTube channel with exclusive videos from Peter Schiff? When you subscribe, you’ll be the first to see: Peter’s latest analysis of the gold market. Interviews with experts like Jim Rickards and Axel Merk. High-definition videos of our gold & silver products. Watch Peter’s introduction to our channel below, then […]

If Gold Backed the World’s Debt

If all the world’s debt were backed by gold, the US dollar price of the yellow metal would be nearly $34,000. Frank Holmes of US Global Investors explains the math in an insightful article. 5.9 billion ounces = total above-ground gold in world. At $1,181 per ounce, that’s about $7 trillion. Total global debt = […]

Price Alert: Gold Up 1.5% – Breaks $1200

The price of gold shot up about 1.5% today, breaking through the technically significant barrier of $1200. Gold closed around $1185 on Wednesday, and rallied today to a peak of $1206. It now hovers around $1202. The jump in price comes on the news that the Federal Reserve is likely to keep the federal funds […]

China Joins the New London Gold Fix

It’s official: China now plays a small role in directly setting the price of gold in Western markets. For the first time ever, a Chinese bank has joined the twice-daily gold price fixing process run by the London Bullion Market Association (LBMA). As we reported back in February, this news was anticipated. The LBMA has […]

Texas to Create Unique Bullion Depository; May Repatriate Gold Reserves

On Friday, Texas Governor Greg Abbott approved a law creating the Texas Bullion Depository – the first state-level precious metals depository in the United States. The bill would also allow Texas to repatriate $1 billion of gold back into the state. The law will go into effect immediately, though it is still unknown exactly where and […]

Looming South Africa Strike Could Boost Short-Term Gold Prices

If you’re planning on buying gold later this summer or in the fall, you might want to consider acting sooner. A looming miners strike in South Africa could push gold prices up in the near to medium-term. According to a Reuters report, “South Africa’s Association of Mineworkers and Construction Union [AMCU] could launch a wildcat […]

The Time Is Right: Multiple Factors Indicate Now Is the Time to Invest in Gold

When an investment columnist who makes it a point to tell you, “I am no gold bug,” writes a column entitled “Gold can glitter if stocks hit the rocks,” it should serve as a pretty good indication now may be the right time to invest in gold. Jeff Reeves writes for MarketWatch, “…given the continued […]

IMF Calls Fed’s Bluff: Delay Rate Hike Until 2016

Last week, International Monetary Fund Managing Director Christine Lagarde said that the Federal Reserve should delay any interest rate hikes until 2016. Higher US policy rates could still result in significant market volatility with financial stability consequences that go well beyond the US borders. In weighing these risks, we think that there is a case […]