Peter's Blog

Gold Was Up Over 9% in the First Quarter

Gold was up 9.2% to a quarterly average of $1,980 an ounce in the first quarter of 2023. This was just 1% off the record high charted in Q3 2020.

Peter Schiff: Traders Still Getting Jobs and Inflation Wrong

The dollar rallied and gold sold off on Monday after the March labor report came in at expectations and comments by the new Bank of Japan governor indicated he plans to continue the country’s ultra-loose monetary policy. In his podcast, Peter explains how traders continued to get both jobs and inflation wrong.

Gold ETFs Report Net Inflows of Gold for First Time in 10 Months

For the first time in 10 months, gold flowed into ETFs in March with global gold ETFs recording net inflows of 32 tons, representing an increase of about $1.9 billion.

Jobs Report: 7 of 8 Categories Below 12-month Trend

The BLS reported that 236k jobs were added in March. Similar to December and January, the Household survey greatly exceeded the Headline Report with 577k jobs added. The Household Survey was surprisingly strong given the current economic environment.

Dollar Woes: SchiffGold Friday Gold Wrap April 7, 2023

The dollar may be king, but its throne is getting a little tippy. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks about the slow but steady erosion of the dollar’s global dominance and the possible ramifications. He also explains how Federal Reserve monetary policy is like poison.

Texas Bill Would Create State-Issued Gold-Backed Digital Currency

Bills introduced in the Texas House and Senate would create a state-issued, gold-backed digital currency. Enactment of this legislation would create an option for people to transact business in sound money, set the stage to undermine the Federal Reserve’s monopoly on money and create a viable alternative to a central bank digital currency (CBDC).

Franklin D. Roosevelt’s Gold Heist

Yesterday (April 5) marked the anniversary 0f the signing of  Executive Order 6102 by President Franklin D. Roosevelt. It was touted as a measure to stop gold hoarding, but it was in reality, an attempt to remove gold from public hands. Many people refer to EO-6102 as a gold confiscation order. But confiscation is probably […]

Trade Deficit Increases Again in February to $70.5 Billion

The February Trade Deficit increased for the third month in a row, rising by $1.9 billion. Net Goods came in at -$92.9B with Net Services at $22.4B to reach a total of -$70.5B.

CFTC CoTs Report: Price Drivers Go Beyond the Futures Market

Based on the latest Commitments of Traders (COT) report, the latest price action is potentially even more bullish than normal. The latest price moves have been supported by Managed Money but the data clearly shows there is more driving the upward movement. Please note: the CoTs report was published 03/31/2023 for the period ending 03/28/2023. […]

Central Bank Gold Buying Shows No Sign of Slowing Down

There’s no sign of a slowdown in central bank gold buying. In February, central bank gold reserves rose by another 52 tons, according to the latest data compiled by the World Gold Council. It was the 11th straight month of central bank net gold purchases.