Peter's Blog

Central Bank Gold Buying Continued in April

After increasing gold holdings by 84 tons in the first quarter of this year, central banks continued to be net gold buyers in April. Globally, central banks added a net 19.4 tons of gold to their holdings in April.

CFTC: Hedge Funds Cover Brief Net Short Position in Silver

Please note: the COTs report was published 6/3/2022 for the period ending 5/31/2022. “Managed Money” and “Hedge Funds” are used interchangeably. Gold Since the peak on March 8, Managed Money has massively reduced its Net Long positions by 98k contracts or 66%. Despite massive selling, the gold price has actually held up fairly well. The […]

Hiring Slows in 5 out of 8 Sectors

The May jobs report was widely regarded as strong. The US economy added 390,000 jobs, according to the latest data. But a deeper dive into that data reveals that the labor market might not be as strong as the mainstream spin is leading you to believe. Even with all the new jobs, hiring slowed in […]

Therapy Session: SchiffGold Friday Gold Wrap June 3, 2022

Why haven’t gold and silver rallied as one would expect in such a high inflation environment? In this episode of the Friday Gold Wrap, host Mike Maharrey delves into some of the psychology driving the markets and explains why it could be blinding people to just how serious the economic situation has become. He also […]

Is “Normalcy Bias” Blinding Us to the Looming Economic Storm?

Average people are worried about the economy. Consumer confidence has been falling. People undoubtedly feel the squeeze of inflation. But despite their general discontent, most people don’t seem to think a severe economic downturn is imminent — despite many warning signs. Why not?

Demand for American Gold Eagles Explodes

Demand for American Gold Eagles exploded in May according to the latest data from the US Mint.

Peter Schiff: Why Shouldn’t You Give Up on Gold and Silver?

A lot of investors wonder about the lack of movement in gold and silver, especially given rampant inflation. Why haven’t we seen a big rally in precious metals as many expected? Why shouldn’t you just give up on gold and silver? Peter Schiff answers these questions in this video.

Tennessee Repeals Sales Tax on Gold and Silver Bullion

Last week, Tennessee Gov. Bill Lee signed a bill repealing the sales tax on the sale of precious metal bullion. Ending the sales tax will relieve some of the tax burdens on investors, and take a step toward treating gold and silver as money instead of as commodities.

Comex Delivery Update: Shorts are Dragging Their Feet Again

The following provides an in-depth analysis of the COMEX futures options market for gold and silver. Gold: Recent Delivery Month Gold started June delivery with 22,394 contracts outstanding. This is below April and December, but above August, October, and February. It is about on par with last June.

Foreign Holders Join the Fed in Reducing Holdings

Despite rising through the month, the Fed balance ended up shrinking slightly by $25 billion in May, even as it slightly increased its Treasury holdings. This was the first monthly decline in the balance sheet since $220B of “Other” rolled off in July 2020. In that case, “Other” were repurchase agreements with foreign entities to […]