Peter's Blog

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.

Peter Schiff: We Have Global Currency Weakness; They’re All Losing Value When Priced in Gold

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 […]

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 […]

Stuck in Neutral: SchiffGold Friday Gold Wrap 05.03.19

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. […]

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.

Central Bank Gold-Buying Binge Continues

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 […]

Yo! Where’s the Inflation At? SchiffGold Friday Gold Wrap 04.26.19

The mainstream pundits and economists keep telling us inflation is “tame.” But is it really? Or are they just not looking in the right place? In this episode of the Friday Gold Wrap, host Mike Maharrey talks about inflation and how it factors into the bubble economy. He also covers the week’s activity in the […]

India Jumps on the Gold Bandwagon

The Reserve Bank of India has jumped on the gold bandwagon. Since December 2017, the Indian central bank has added 50.4 tons of gold to its reserves. India bought 8.2 tons of gold in January and February of this year and analysts project that pace to pick up. Economist Howie Lee told Bloomberg he expects […]