Peter's Blog

China Officially Adds to Gold Reserves as It Shifts Away from the US Dollar

China officially added gold to its reserves last month for the first time in two years. Meanwhile, the Chinese have been shrinking their holdings of US Treasuries. According to the Nikkei Asian Review, the moves are intended to reduce dependence on the US dollar. According to data released by the People’s Bank of China, the […]

South African Gold Production Drops for 14th Straight Month

Gold output in South Africa fell for the 14th straight month in November. According to Bloomberg, it ranks as the longest streak of monthly declines since 2012. Production fell 14% from a year earlier, Pretoria-based Statistics South Africa said in a statement on its website last week. South Africa once led the world in gold […]

He Said What? Gold Is a Useless Metal?

A couple of days ago, CNBC commentator Jim Leventhal made a pretty astounding comment. When asked about gold, Leventhal said he had no interest in it because gold has no uses as a metal. No uses? What?

Billionaire Buys Gold for the First Time

Billionaire Sam Zell said he recently took the plunge and bought gold. “For the first time in my life, I bought gold because it is a good hedge,” Zell said during an interview on Bloomberg TV.

To All You Scoffers: Friday Gold Wrap 01.18.19

The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the week’s precious metals news coupled with thoughtful analysis. You can subscribe to the podcast on iTunes.

Brits Deal With Brexit Uncertainty By Hoarding Gold

As uncertainty swirls around Brexit and exactly what that will mean for the economy, Brits have been hoarding gold. According to a statement by The Royal Mint, the demand for gold bars and gold coins spiked in December as uncertainty about the UK’s exit from the EU grew. We have seen a significant increase in demand […]

Exploding US Debt “The Most Viable Threat” to the Economy

Tocqueville Management Corp. chairman John Hathaway says the growing US government debt to GDP ratio poses “the most viable threat” to the US economy. In his fourth-quarter investment letter, Hathaway said the ballooning US debt, coupled with a bear market and a recession, will likely weaken the dollar and send gold much higher in the near future.

Peter Schiff: Gold Is Going to Shine in 2019 (Video)

Peter Schiff has said it’s not that we have a “volatile” economy right now. We have a bubble economy, and we are at the beginning of a much bigger crisis than we went through in 2008. Peter continued with this theme on a recent appearance on Kitco News with Daniela Cambone noting that things are setting […]

Fun on Friday: Soccer Player Strikes Back After Social Media Freakout Over His Gold Steak

Bayern Munich soccer star Franck Ribéry struck back at detractors who went after him on social media because he had the audacity to post a video of himself eating a steak covered in 24-karat gold. Oh, the horror!

What’s Up With Fed Chair Jerome Powell? Friday Gold Wrap 1.11.19

The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the week’s precious metals news coupled with thoughtful analysis. You can subscribe to the podcast on iTunes.