Peter's Blog

Fundamentally Speaking: SchiffGold Friday Gold Wrap Feb. 5, 2021

It’s been a crazy, volatile week for precious metals. The Reddit Raiders pushed silver to over $29 an ounce and the white metal took gold up with it. But the run was short-lived and we saw a big sell-off in both metals later in the week. In this episode of the Friday Gold Wrap, host […]

US Mint Reports “Exceptional” Demand for Gold and Silver Coins in January

Last year’s surge in demand for investment gold and silver continued into January if sales at the US Mint are any indication. American Gold Eagle bullion coin sales were up 455% in 2020 and the selling continued through the first month of 2021. The mint called the current market demand for precious metals coins “exceptional.”

Peter Schiff: When Kashkari Talks, Smart People Buy Gold

Minneapolis Federal Reserve Bank President Neel Kashkari has been making the rounds. Peter Schiff talked about Kashkari’s recent comments on his podcast. Kashkari ranks as arguably the most dovish Fed president. Peter called him the “uber-dove” saying he basically wants to print as much money as possible.  During an online seminar put on by Montana’s […]

Focus on Fundamentals: Gold Supply Dropped Sharply in 2020

Total gold supply fell 4% year-on-year in 2020 to 4,644 tons. It was the largest annual decline since 2013, according to data from the World Gold Council. The decline was primarily driven by disruptions in mine production due to the COVID-19 pandemic. Gold mine output fell 4% on the year. More significantly, it marked the […]

A Real Game Stopper: SchiffGold Friday Gold Wrap Jan. 29, 2021

If you follow the markets at all, you’ve heard about the big surge in GameStop stock driven at least in part by retail investors informed by social media. Now the Reddit investors have turned their eyes to silver. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey breaks down the GameStop phenomenon […]

Investment Demand for Gold Set Records in 2020

Investment demand for gold set a new record in 2020, but it was not enough to offset a big drop in consumer demand due to the COVID-19 pandemic. Gold demand was up substantially in both ETFs, and for gold bars and coins Overall, gold demand fell to 3,759 tons in 2020, according to the Gold […]

Bills Introduced in Mississippi and Tennessee Would Repeal Sales Tax on Gold and Silver

Bills introduced in the Mississippi House and the Tennessee Senate would repeal state sales taxes on precious metals bullion. This would not only relieve some of the tax burdens on investors in those states; it would also take a small step toward treating gold and silver as money instead of commodities.

Gold Mine Output Fell Sharply in 2020

World gold production dropped by 5.4% in 2020 according to preliminary estimates released by GlobalData last week. Global data projects gold production came in at 108 million ounces last year. The sharp decline was largely due to mine closures during the coronavirus pandemic. But it also fits into a broader trend of declining mine output […]

Peter Schiff: Give the Government an Inch; It Takes a Million Miles

The Joe Biden administration got underway last week. The newly inaugurated president issued a flurry of executive orders, many of them relating to the economy. In his podcast, Peter Schiff talked about the potential impact of these EOs. He said it looks like Americans voted for Joe Biden, but they ended up with Bernie Sanders.

Fun on Friday: Back to the Beginning

Confession time — I couldn’t find a darn thing “fun” relating to gold this week. Honestly, it wasn’t exactly a fun week to begin with unless you’re into political theater. In case you haven’t figured it out yet, I’m not.  We certainly had all the political theater we could ever want with the inauguration and […]