Peter’s Blog

I want Fun on Friday to be, well, fun. But I also want to provide a public service to you, my dear readers. Today, I have a really good pro-tip for you. Close your vault. And lock it.

The price of gold surged this week, breaking all-time records in a number of currencies. It also did pretty well in dollar terms, hitting six-year highs and pushing above the key $1,500 level. Meanwhile, silver had its best single day in over three years. What drove this week’s precious metals rally? And can we expect […]

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 […]

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.

Several currencies have been strong against the dollar over the last couple of days, but as Peter Schiff said in his podcast, the biggest gainer wasn’t a currency at all. It was real money – gold. Gold hit six-year highs on Monday and set records in a number of currencies. It continued to move upward […]

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 […]

The Federal Reserve FOMC met this week. When it was all said and done, the Fed did nothing. We’re stuck in neutral. As expected, there was no rate hike. Fed Chair Jerome Powell indicated that the central bank would likely maintain this neutral stance into the foreseeable future, staying patient, neither raising nor lowering rates. […]

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, 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.

Central banks added more gold to their reserves last month, continuing a trend that stretches back into last year. Globally, central banks added another 31 net tons of gold in March, according to the latest report by the World Gold Council based on International Monetary Fund data. That brings the total increase in central bank […]