Peter's Blog

Is the Mainstream Turning Bullish on Gold?

In a podcast a couple of weeks ago, Peter Schiff said we now have all the elements of a gold bull market. Well, it looks like the mainstream might be starting to catch on. A headline at Bloomberg on Friday proclaimed “Hedge Funds Go All-In on Gold.” According to the Bloomberg report, hedge funds increased […]

American Consumers Propping Up Economy With Money They Don’t Have

Consumer debt is driving American economic growth. Total outstanding consumer debt surged over $4.1 trillion in the second quarter of 2019, according to the latest data released by the Federal Reserve. American indebtedness grew by 4.9 over the year, and the quarterly gain from Q1 to Q2 came in at $60 billion — the biggest […]

ETF Gold Holdings Hit Highest Level Since March 2013

Gold holdings in gold-backed ETFs globally surged to the highest level in over six years in July. Gold-backed ETFs added 52 tons of gold last month, with net inflows totaling $2.6 billion, according to the latest data released by the World Gold Council. This follows on the heels of a June increase that totaled 127 […]

Silver Charts Biggest Single-Day Gain Since 2016

Gold pushed above $1,500 again Wednesday (Aug. 7) and silver joined the party, charting its biggest single-day gain in nearly three years. Silver surged 73 cents on the day for a 4.4% gain, closing above the key $17 level for the first time since January 2018.

A Race to Hell: Negatively Yielding Debt Tops $15 Trillion for First Time Ever

Negative yielding debt has exceeded $15 trillion globally for the first time ever. This pile of negatively yielding paper includes government and corporate bonds, along with some euro junk bonds. WolfStreet called it a “race to hell.”

Bitcoin Is a Replacement for Gold? Not So Much

A recent video ad produced by a digital currency asset company titled “Drop Gold” created some waves on social media last week. The ad encourages investors to drop gold from their portfolios and replace it with digital currencies such as Bitcoin. “In a digital world, gold shouldn’t weigh down your portfolio,” the ad proclaims. But […]

Focus on Fundamentals: Gold Demand Up 7% in the First Quarter

Gold demand was up 7% year-on-year in the first quarter, according to the World Gold Council Gold Demand Trends Q1 2019 report. Total global demand came in at 1,053.3 tons, driven primarily by central bank buying, inflows of metal into ETFs and strong demand for gold jewelry.

Australian Mines Are Running Out of Gold

Australian mines are running out of gold, according to a report by S&P Global Market Intelligence. Analysts say Australia sits poised above a “production cliff.” The country could slip from the world’s second-largest gold producer to fourth by 2024. The Australian gold mining industry faces the same problem as South Africa’s – aging mines.

Silver News: Global Demand Up and More Technical Innovations

Global silver demand rose for the first time since 2015 last year. The Silver Institute highlighted the growing demand for silver along with a number of technological innovations utilizing the white metal in its latest edition of Silver News.

The Fed Appears Poised to Resume Monetizing the US Government’s Massive Debt

It looks like the Federal Reserve is about to get back into the bond business and help the US government deal with its massive debt. The Treasury Department announced yesterday that it will not have to borrow as much money in the third quarter of fiscal 2019 as originally anticipated. But this is not because […]