Peter's Blog

Investment Demand for Gold Set Records in 2020

Investment demand for gold set a new record in 2020, but it was not enough to offset a big drop in consumer demand due to the COVID-19 pandemic. Gold demand was up substantially in both ETFs, and for gold bars and coins Overall, gold demand fell to 3,759 tons in 2020, according to the Gold […]

Bills Introduced in Mississippi and Tennessee Would Repeal Sales Tax on Gold and Silver

Bills introduced in the Mississippi House and the Tennessee Senate would repeal state sales taxes on precious metals bullion. This would not only relieve some of the tax burdens on investors in those states; it would also take a small step toward treating gold and silver as money instead of commodities.

Gold Mine Output Fell Sharply in 2020

World gold production dropped by 5.4% in 2020 according to preliminary estimates released by GlobalData last week. Global data projects gold production came in at 108 million ounces last year. The sharp decline was largely due to mine closures during the coronavirus pandemic. But it also fits into a broader trend of declining mine output […]

Peter Schiff: Give the Government an Inch; It Takes a Million Miles

The Joe Biden administration got underway last week. The newly inaugurated president issued a flurry of executive orders, many of them relating to the economy. In his podcast, Peter Schiff talked about the potential impact of these EOs. He said it looks like Americans voted for Joe Biden, but they ended up with Bernie Sanders.

Fun on Friday: Back to the Beginning

Confession time — I couldn’t find a darn thing “fun” relating to gold this week. Honestly, it wasn’t exactly a fun week to begin with unless you’re into political theater. In case you haven’t figured it out yet, I’m not.  We certainly had all the political theater we could ever want with the inauguration and […]

Ol’ Joe Takes the Wheel: SchiffGold Friday Gold Wrap Jan. 22, 2021

Joe Biden took the country’s wheel on Wednesday. For some, it was a day of celebration. And for some, it was a day of mourning, depending on your political perspective. But what is really in store for us in the Biden years? In this episode of the Friday Gold Wrap podcast, host Mike Maharrey considers […]

Indian Gold Market Shows Signs of Revival

India ranks as the second-largest gold consuming country in the world, second only behind China. But over the last couple of years, the gold market in India has languished due to a combination of record-high gold prices in rupee terms and the economic impacts of the coronavirus pandemic. But were signs of revival in the […]

ETFs Charted Record Gold Inflows in 2020; Holdings Hit All-Time High

Gold-backed ETFs recorded record net gold inflows, pushing holdings globally to record levels in 2020. On net, ETFs globally added 877 tons of gold last year worth about $47.9 billion. Gold holdings rose by over one-third, ending the year at a record 3,752 tons, according to data released by the World Gold Council.

Fun on Friday: What a Find!

I would make the world’s worst archeologist. I’m just not good at finding things. I’m the guy who stares into the cabinet right at the salt shaker and then asks his wife, “Where’s the salt.” So, yeah, a job that involved searching for stuff that has been hidden for hundreds or even thousands of years […]

Spend! Spend! Spend! SchiffGold Friday Gold Wrap Jan. 15, 2021

The US government ran the biggest December deficit in history last month and there is no end in sight to the borrowing and spending. President Biden unveiled a new $1.9 trillion stimulus plan this week. So what? Why does it matter? Can’t this “rescue the economy?” Host Mike Maharrey talks about all of the spending […]