Peter's Blog

The Penny Costs 3.69 Cents to Make.

Imagine running a business where every time you sell a product for one cent, you spend four cents manufacturing. You’d probably reconsider your operating model quickly. The United States government took many years to reconsider a similar situation.  For years, the U.S. Mint produced pennies that cost more to manufacture and distribute than their face […]

Toilet Paper, Chicken, and Bullion

Costco will sell you just about anything: a 48-pack of toilet paper, a five-pound bag of shredded cheese, a $1.50 hot dog.  And, apparently, a bar of gold. The same warehouse club that built its reputation on selling everyday necessities in bulk has become a serious player in the precious metals business. In 2024, Wells […]

Lock It Up!

You Bought Gold. Now Where Are You Supposed to Put It? You’ve done your research, compared premiums, and finally bought your first ounce of gold. Now what? Put it in a sock drawer? Buy a safe? Rent a bank safe-deposit box? Buying gold is relatively straightforward. Figuring out where to keep it is where things […]

Comex Update: Delivery Activity Goes Deathly Quiet

The CME Comex is the Exchange where futures are traded for gold, silver, and other commodities. The CME also allows futures buyers to turn their contracts into physical metal through delivery. You can find more detail on the CME here (e.g., vault types, major/minor months, delivery explanation, historical data, etc.). The data below looks at […]

Schiff on Commodity Culture: Gold and Silver are Poised to Surge

Peter recently joined the Commodity Culture podcast to break down the recent pullback and consolidation in gold prices, and why he sees the metal’s long term trajectory still pointed higher. He also discusses silver’s historic breakout, the mounting debt burden weighing on economies worldwide, and compares American entitlement programs to a wheelbarrow with too many […]

Irrational Allocation and Gold

Americans own far less gold than they should. Less than .5% of American consumer portfolios are gold. Although gold provides countercyclical safety to the market and has grown consistently in relation to the dollar and performed not dramatically differently from the S&P over the last 25 years, Americans still only allocate a tiny portion of […]

CFTC CoTs: Managed Money No Longer Driving Price Moves

Please note: the CoTs report was published 09/25/2026 for the period ending 09/22/2026. “Managed Money” and “Hedge Funds” are used interchangeably. The Commitment of Traders report is a weekly publication that shows the breakdown of ownership in the Futures market. For every contract, there is a long and a short, so the net positioning will […]

Comex Update: 400oz Gold Contract Cancelled; Silver Demand Strengthens

The CME Comex is the Exchange where futures are traded for gold, silver, and other commodities. The CME also allows futures buyers to turn their contracts into physical metal through delivery. You can find more detail on the CME here (e.g., vault types, major/minor months, delivery explanation, historical data, etc.). The data below looks at […]

The Technicals: The Next Move Looks Bullish but it Needs to Come Sooner Rather than Later

Technical Analysis of Gold and Silver This analysis attempts to look at different metrics to understand the current momentum in the gold and silver markets. It is meant as an analysis on potential price direction in the very short-term (a few weeks to 1-2 months). In Q1, the analysis highlighted the break of support in […]

Comex: Delivery and Inventory Activity Crashes While GLD Having Best Month Ever

The CME Comex is the Exchange where futures are traded for gold, silver, and other commodities. The CME also allows futures buyers to turn their contracts into physical metal through delivery. You can find more detail on the CME here (e.g., vault types, major/minor months, delivery explanation, historical data, etc.). The data below looks at […]