Peter's Blog

A Monetary Jenga Game: SchiffGold Friday Gold Wrap Feb. 4, 2022

With little fanfare, the national debt crossed the $30 trillion threshold this week. That is an unfathomable number. And as host Mike Maharrey explains in this week’s Friday Gold Wrap podcast, it’s worse than that. Most people aren’t concerned. Maharrey argues that they should be, likening the federal government’s borrow and spend policy to a […]

What is the Comex Gold Market Signaling?

As reported last week, Comex January turned out to be extremely strong in both gold and silver for a minor month. Most of that strength materialized after First Position. February was looking modest in gold and weak in silver, but the gold market is now showing outlier trends. This analysis focuses on gold and silver delivery […]

Oklahoma Considering Creation of State Gold Bullion Depository

A bill filed in the Oklahoma Senate would establish a state bullion depository similar to the one operating in Texas. This would not only create a safe place to store precious metals; it also has the potential to facilitate the everyday use of gold and silver in financial transactions in Oklahoma and set the stage […]

2021 Chinese Gold Demand Surged Above Pre-Pandemic Levels

Chinese gold consumption rebounded in 2021, rising by 36.53% year on year as the market continues to recover after taking a hard hit during the coronavirus pandemic. More significantly, gold demand was up 11.78% compared with consumption in 2019, before the pandemic. China ranks as the world’s number one gold consumer.

Peter Schiff: Consumers Are Concerned; Investors Are Clueless

Is bitcoin an inflation hedge? Peter Schiff recently appeared on RT Boom Bust with Natalie Brunell of Coin Stories to discuss inflation and whether bitcoin is a hedge. Peter said bitcoin is not an inflation hedge. He called it a “speculative token” with its price driven by supply and demand. But what about gold? It […]

It’s a Big Flim-Flam: SchiffGold Friday Gold Wrap Jan. 28, 2022

The Federal Reserve held its first FOMC meeting of 2022. The central bank didn’t do anything, but the tone coming out of the meeting was widely perceived as even more “hawkish.” Everybody is convinced the Fed really means it now. The inflation fight is on. Is it though? Host Mike Maharrey talks about the messaging […]

Several States Consider Repealing Sales Tax on Gold and Silver Bullion

Several states are considering bills to repeal the sales tax on precious metal bullion during the 2022 legislative session. Passage into law would relieve some of the tax burdens on investors, and would also take a step toward treating gold and silver as money instead of as commodities.

Money Supply Grew 13.1% in 2021 – Is It Enough to Keep the Bubble Going?

M2 increased by $201 billion in December. This represents a 0.94% MoM increase which annualizes to 11.9%. For the entire year of 2021, M2 grew by an incredible $2.5 trillion or 13.1%! This is extremely rapid money supply growth! The Fed can taper their asset purchases, but shrinking the Money Supply is the only way […]

World’s Largest Gold ETF Sees Record Inflows

The world’s largest gold ETF saw record inflows on Friday, a bullish sign for the yellow metal. SPDR Gold Shares (GLD) ranks as the world’s largest gold fund. It saw a net inflow of $1.63 billion on Friday. It was the largest net inflow in dollar terms since the fund was listed in 2004.

The Technicals: Will $1800 Gold Hold?

For the past year, gold has been battling around the $1,800 an ounce psychological mark. Silver has faced a similar up and down battle near $25, albeit with more volatility. Gold finished 2021 strong at $1830 but then a pullback happened followed by a quick rebound back above $1800 and now $1830. Will $1800 hold […]