Peter's Blog

Precious Metals Manipulation & Physical Investment

The US Justice Department has begun to investigate whether 10 of the world’s largest banks have manipulated gold and silver prices. The Justice Department is just the latest in a series of financial regulators to investigate possibilities of precious metals manipulation, including the UK Financial Conduct Authority, Germany’s BaFin, and Switzerland’s competition commission WEKO. On […]

China Consuming More Gold than World Produces

374 metric tons of gold were withdrawn from the Shanghai Gold Exchange (SGE) in the first 6 weeks of 2015. During the same period, about 300 tons of gold were newly mined in the entire world. Using these figures, China is currently consuming more gold than the world is producing. The surge in Chinese gold […]

John Paulson Sticks to Gold, Defying Market Sentiment

Renowned hedge fund manager John Paulson is committed to gold. A new government filing from Paulson & Co. shows that as of December 31st, it remains the largest holder in the SPDR Gold Trust (GLD). It owns 10.33 million shares of GLD, the biggest gold exchange-traded fund in the world. Paulson’s company has maintained this […]

The Unseen Consequences of Wal-Mart’s Wage Hike (Video)

Wal-Mart announced yesterday that it is going to raise its minimum wage to $9 an hour, which will affect a half-million employees. Many are praising the company and saying this will improve the lives of low-wage workers, while also providing a boost to the American economy. However, Peter Schiff isn’t so optimistic. He explained to […]

The Fed Drops Hints That It Won’t Raise Rates

The dollar dropped while gold rose early this morning as the markets reacted to the release of the Federal Reserve’s minutes from its January meeting. The minutes show that Fed officials are more worried about raising interest rates than most of the markets thought. In fact, there was even talk of easing their monetary policy […]

Are Gold Buyers Crazy?

Last week, Peter Hug said that about 25% of all physical gold buyers are “crazies.” The comment is remarkable, because Hug is an executive at Kitco, one of the largest precious metals dealers in North America. In fact, Hug is the Director of Kitco’s Precious Metals Division. Hug’s reasoning is that a lot of the […]

India May Cut Its Gold Tax, Supporting Global Prices

Analysts are expecting Indian Prime Minister Narendra Modi to cut the huge 10% gold import tax in his budget proposal at the end of February. Late last year, India scrapped its import rule that required 20% of all gold imports to be reexported. Premiums, and consequently smuggling, have both dropped since then. If Modi were […]

European Gold Sales Surge on Economic Uncertainties

Europeans bought a lot more gold in January. Investors turned to the yellow metal to protect themselves economic turmoil that could result from Greece leaving the eurozone and the oncoming wave of European quantitative easing. The price of gold in euros has already risen 9% in 2015, putting it at a 21-month high. Europeans are […]

2014 Gold Demand Remained Well Above Pre-Crisis Levels

The World Gold Council (WGC) has released its Gold Demand Trends report for the full year of 2014. Overall, gold demand was down 4% compared to 2013. The financial media often latches on to just this headline number, adding it to the list of factors it uses to discredit investment in physical gold and silver. […]

Record Number of Americans Renounce Citizenship 2 Years in a Row

A record number of individuals renounced their American citizenship or residency in 2014, according to the Treasury Department – a total of 3,415 people. This number is 14% higher than last year, which was also a record year that clocked in 2,999 new expatriates. While there is no definite way to know why these numbers are […]