Peter's Blog

When the Solution Becomes the Problem: SchiffGold Friday Gold Wrap May 26, 2023

The debt ceiling “crisis” is coming to a head.  We’re pretty confident Republicans and Democrats will strike a deal and raise the debt ceiling. That’s supposed to solve the problem. But Friday Gold Wrap podcast host Mike Maharrey says the solution is the problem. In this episode, he also offers some bullish perspective on silver.

Comex Delivery Countdown: June Shows Promise

Gold is wrapping up May which has slightly exceeded the last minor month in March.

13-Week Money Supply Growth Crashes to -7.2%

Seasonally Adjusted Money Supply in April fell $167B. As the chart below shows, this is now the 9th consecutive monthly drop. This is also the second-largest drop of all time, behind only last month.

The Technicals: How Much Left in the Current Gold and Silver Correction?

The technical analysis last month highlighted the mixed environment at the time: The indicators are once again giving some mixed signals. The price action is definitely needing further consolidation. However, other indicators suggest a market that is just getting started. … Either way, downside does seem limited at this point, especially considering all the bad news has […]

Poland Resumes Buying Gold

Poland is buying gold again. The  National Bank of Poland added nearly 15 tons of gold to its reserves in April, according to data published by the bank last week. It was the largest increase in the country’s reserves since June 2019 when the bank boosted reserves by almost 100 tons.

What Are the Markets Getting Wrong?

We’ve talked about the recent selloff in gold. On the other side of the coin, the NASDAQ has made a string of 52-week highs. What is driving these market dynamics? The Fed. The markets generally believe that the Federal Reserve is finished hiking interest rates, or at least close enough to being done that a […]

Who Has the Gold?

Which countries hold the most gold? Central banks around the world have been piling up gold. After a record-setting 2022, central bank gold reserves increased by 228 tons through the first three months of 2023, a Q1 record. This was 38% higher than the previous first-quarter record set in 2013.

Peter Schiff: The Fed Is Losing the Inflation Fight

We saw a big selloff in the gold market last week and the price dropped below $2,000 an ounce. The catalyst for that selloff was tough talk from several Federal Reserve officials and an increasing expectation that the central bank will raise rates again in June. As Peter Schiff explained in his podcast, everybody thinks […]

Comex Increase in Inventories Does Little to Move the Needle

Banks have restocked gold recently, but with the massive drawdown in inventories over the last year, the recent increase has done little to actually replenish those supplies. This analysis focuses on gold and silver within the Comex/CME futures exchange. See the article What is the Comex? for more detail. The charts and tables below specifically analyze the […]

Who Cares? SchiffGold Friday Gold Wrap May 19, 2023

There are a few things that Friday Gold Wrap host Mike Maharrey writes about that don’t seem to garner much interest. In this show, Mike is going to talk about two of those things, why they matter, and why you should care. He also talks about the recent drop in the price of gold and […]