Peter's Blog

The Technicals: Gold Correction Is at or Near Completion

With a hawkish Fed and dollar strength, gold has dropped below $1,950 an ounce, but the technicals appear to indicate that we are at or near the end of a correction. The technical analysis last month was published when gold was around $1975 and concluded: The indicators are now mostly neutral with a bearish lean. There are […]

Comex Countdown: The Pressure Grows in Silver and Platinum

June is wrapping up strong for gold at the COMEX with 20,101 contracts being delivered. There are still 583 contracts open that have not been delivered, but the majority of the contracts have been completed. Meanwhile, were seeing more and more stress on silver and platinum.

All You Do to Me Is Talk Talk: SchiffGold Friday Gold Wrap June 23, 2023

Fed Chair Jerome Powell went to Capitol Hill this week and talked. His open-mouth operations dominated the financial news and drove gold lower. In this episode of the Friday Gold Wrap, host Mike Maharrey digs into Powell’s comments, reads between the lines, and points out a couple of things Powell got completely wrong. He also […]

Comex Now Has 28 Paper Claims for Each Physical Ounce of Registered Silver

The bleed of metal from COMEX vaults has resumed and silver inventories have hit record lows with 28 paper claims for each ounce of physical silver. 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 physical […]

North Carolina Bill Would Launch Study of a State Gold Bullion Depository

A bill making its way through the North Carolina legislature would mandate a cost-and-benefit study on creating a state precious metals bullion depository. A bullion depository would not only create a safe place to store precious metals; it could also facilitate the everyday use of gold and silver in financial transactions in North Carolina and […]

Precious Metals Market Expected to Top $400 Billion in Next Five Years

The global precious metals market is on pace to top $400 billion within the next five years. According to Fortune Business Insights, an India-based consultancy company, the precious metals market is on pace to hit $403.1 billion by 2028, driven primarily by the gold market. This is up from $275 billion in 2021.

Mainstream Perception vs. Economic Reality: SchiffGold Friday Gold Wrap Podcast June 16

There is the mainstream and market perception of what going on in the economy and financial system. And then there’s the underlying economic reality. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks about the growing divergence between the two in the context of the June Federal Reserve meeting and the […]

Federal Budget: TTM Deficit Surges by an Incredible $980B YoY

The Federal Government ran a deficit last month of $240B. Revenue continues to be at or below levels last year while expenses continue to grow.

Energy Disguises a Pretty Bad Inflation Number

The CPI rose in May by 0.12%. Energy accounted for -0.25% of the move. This means without the move in Energy, the CPI would have risen by 0.37% which annualizes to a rate of 4.5%. This shows that inflation is still quite problematic.

Silver Is Significantly Underpriced Given the Looming Supply Shortage

Given the current macroeconomic environment and the supply and demand dynamics, silver is significantly undervalued at $24 to $25 an ounce.