Peter's Blog

Why Silver is Outperforming Gold (Again)

Silver’s impressive gains have left it, yet again, outpacing gold by around 50% year-to-date. This is a common pattern for the metal, which has historically tended to outperform gold during certain stages of bull markets.  Just as silver has done before, it’s capitalizing on the same macroeconomic conditions that have been a boon for gold, […]

World Gold Council: ETF Tsunami Lifts U.S. Gold Demand 58% 

Gold’s third-quarter scorecard shows a tale of two markets. Overall U.S. demand leapt 58% year-over-year to 186 metric tons, the largest Q3 tonnage in more than a decade. Yet traditional consumer demand—jewellery plus bar & coin—actually shrank by a third to just 32 t. The gap was filled almost entirely by institutional money flooding into […]

When Does Gold Finally Correct?

Gold’s meteoric rise has captured the world’s attention and is leaving the usual voices in traditional finance stupefied. There’s talk of bubbles, frenzies, and froth. Gold is down now from its peak, but when will it substantially correct?  On a long enough timeline, when central bankers print infinite amounts of fiat currency, gold is bound […]

Philly Fed Index Sinks to Lowest Since April — Gold Pops Above $4,300

Manufacturing in the mid-Atlantic hit an air pocket in October, according to the Philadelphia Fed’s latest Business Outlook Survey, even as raw-material prices kept marching higher and gold flirted with fresh highs. The headline activity index cratered 36 points to –12.8—its worst showing since April—while barely one in eight firms said conditions improved. Yet selling […]

Measure Assets in Gold, Not Dollars

A new round of tariff announcements from the Trump administration sent markets reeling, with cold coming down from its all-time high over $4,050, only to settle above $4,000, signaling collective doubt in the system itself as investors rush to protect themselves with hard assets.  Collectively, markets are reaffirming gold’s role at the center of sovereignty, […]

Payrolls Shrink, Gold Brushes $3,900 Amid Labor Squeeze

U.S. private employers unexpectedly cut 32,000 jobs in September, according to the latest ADP National Employment Report released Tuesday, marking the first aggregate decline since early 2024. Goods makers shed 3,000 positions and service industries bled another 28,000, with layoffs concentrated in leisure and hospitality (-19,000) and professional and business services (-13,000). The dismal headline […]

Gold Fixes This

Bitcoin evangelists love the saying, “Bitcoin Fixes This.” They presents it as the magic bullet that cures everything, from inflation and war to political corruption and even obesity. Whatever the problem, they claim that Bitcoin’s hard cap of 21 million computer coins makes it the solution to all of society’s woes. You work for it.They […]

Powell’s Rate Cut Explainer Sends Gold Near $3,800

Federal Reserve Chair Jerome Powell took the podium in Warwick, Rhode Island on September 23rd to explain why policymakers trimmed the federal funds target another 25 basis points last week. Speaking to the Greater Providence Chamber of Commerce, Powell said the new 4.00–4.25 percent range moves policy “toward a more neutral stance.” Yet in the […]

Fed Blinks Again as Growth Cools, Gold Nears $3,700

The Federal Open Market Committee (FOMC) trimmed its policy rate by 25 basis points yesterday, acknowledging that U.S. growth has “moderated” and job creation is sputtering even as prices keep climbing. The new 4.00 – 4.25 percent target range marks the third cut of 2025 and arrives with inflation still “somewhat elevated,” hardly a confidence-inspiring […]

El Salvador Finally Buys Gold

After its Bitcoin-buying spree, El Salvador has made its largest gold purchase in over three decades, diversifying its holdings into real money. Across the world, Bitcoin evangelists are joining central banks and funneling capital into history’s one and only hard money asset. If they were smart, El Salvador would trade all their so-called “digital gold” […]