Peter's Blog

Big Sale By Turkey Dropped Global Central Bank Gold Reserves for First Time in a Year

A large sale by Turkey in April caused global central bank reserves to fall for the first time in over a year, even as central bank gold buying continued. Official global reserves dropped by 71 tons in April, according to the latest data collected by the World Gold Council.

CFTC CoTs Report: Managed Money Drives Price Drop

Please note: the CoTs report was published 06/02/2023 for the period ending 05/30/2023. “Managed Money” and “Hedge Funds” are used interchangeably. Managed money has once again bailed on gold, which drove the price back below $2000 an ounce despite the “Other” group stepping in to absorb some of the selling.

Jobs: The Household Survey Tells a Different Story

The BLS reported that a whopping 339,000 jobs were added in May. This crushed median estimates of 190,000 jobs added. The Household Survey tells a very different story though, reporting a loss of 310,000 jobs.

Fed Reduces Treasury Bill Balance By Over $100B in May

The Fed reduced its balance sheet by $177 million last month. The majority of this was actually in Treasuries with less than 1-year maturity, totaling $102B. The next biggest reduction was in loans, totaling $40B.

Gold Has Record Number of Contracts Cash Settle to Start June Delivery

As expected, gold has turned in a fairly strong start to the month on the COMEX. It’s below April but is still early in the contract.

A Premium Episode: SchiffGold Friday Gold Wrap June 2, 2023

If you buy gold or silver, you’re going to pay a premium. So, what exactly is a premium and how is it determined? In this episode of the Friday Gold Wrap, host Mike Maharrey answers common questions about premiums. He also discusses the debt ceiling deal and reveals where Americans rank gold as a long-term […]

Nearly One-Quarter of Central Banks Plan to Buy More Gold in Next 12 Months

Over the last several years, central banks globally have added gold to their reserves at a historically high rate. It doesn’t appear the buying spree will end anytime soon. According to the World Gold Council 2023 Central Bank Gold Reserve survey, 24% of central banks plan to add more gold to their reserves in the […]

Understanding Premiums

When we talk about the spot price of gold and silver, or the return on precious metals investments, some people are quick to remind me that I’m not factoring in premiums. What exactly are premiums?

Faced With New Round of Demonetization Indians Turn to Gold

The Indian central bank has announced another round of demonetization with a plan to withdraw 2,000-rupee notes from circulation. The announcement led to a big jump in gold bullion sales. The 2,000-rupee note will remain legal tender, but they will have to be deposited or exchanged for smaller denominations by Sept. 30.

Americans Rank Gold as Second-Best Long-Term Investment

Americans consider gold the second-best long-term investment option, according to a recent Gallup poll. Gold beat out stocks, bonds and savings accounts. The perception that gold is the best investment over the long term rose from 15% in 2022 to 26% in the 2023 poll, overtaking stocks at the number two spot.