Peter's Blog

This Month In Gold – June 2015

Texas Wants Gold Back from Feds CBS News – Texas wants its physical gold back. In mid-June, Gov. Greg Abbot signed a law creating a state gold bullion and precious metal depository. The Star-Telegram reported that the primary goal of the depository is to “bring home more than $1 billion in gold bars that are […]

Greeks, Europeans, Even Americans Rush to Gold on Greek Crisis

Greece missed its International Monetary Fund (IMF) payment earlier this week – the first advanced economy in the world to do so. All of Europe is watching to see if Greece stays in the eurozone and what the ramifications could be for the relatively young euro currency. And while they wait, they’re buying gold. European […]

June Silver News

The Silver Institute has released its June newsletter. The publication features interesting and educational articles about the latest technology in the silver industry, as well as new silver investment products on the market. This edition notes that industrial demand for silver continues to grow in Asia and developing countries: Industrial applications accounted for 56 percent […]

BIS Warns Central Banks Won’t Be Able to Deal with Next Crisis

Bank of International Settlements issued a blunt report on Sunday, warning that over-reliance on monetary policy has left central banks with little capacity to deal with the next global crisis. As the Telegraph reports, BIS asserts that central banks have “backed themselves into a corner” by repeatedly cutting interest rates in order to stimulate flagging […]

Chinese Gold Price Fix by End of 2015

China will reportedly create a yuan-denominated physical gold price setting mechanism through the Shanghai Gold Exchange (SGE) by the end of the year. According to a Reuters report, the plan aims to give China more influence over gold pricing. The country already leads the world in production and consumption of gold bullion.

Greek Bank Closures & Capital Controls; Puerto Rico Heads Towards Default

Greece has closed its banks and instituted capital controls. The measures will remain in effect until at least July 6th, the day after a popular referendum on European bailout aid is due to take place. Rather than agree to further austerity measures in exchange for an extension of financial aid from its international creditors, Prime […]

Silver Bullion – Just $1 an Ounce! (Video)

Mark Dice walked around downtown Encinitas, California and tried to sell a 10-ounce bar of silver for only $10. At today’s prices, that bar is worth about $160. He asked men and women, young and old, if they’d like to buy it. He even lowered the price to $1 while standing directly out front of […]

SchiffGold on YouTube (Video)

Did you know SchiffGold has a YouTube channel with exclusive videos from Peter Schiff? When you subscribe, you’ll be the first to see: Peter’s latest analysis of the gold market. Interviews with experts like Jim Rickards and Axel Merk. High-definition videos of our gold & silver products. Watch Peter’s introduction to our channel below, then […]

If Gold Backed the World’s Debt

If all the world’s debt were backed by gold, the US dollar price of the yellow metal would be nearly $34,000. Frank Holmes of US Global Investors explains the math in an insightful article. 5.9 billion ounces = total above-ground gold in world. At $1,181 per ounce, that’s about $7 trillion. Total global debt = […]

Price Alert: Gold Up 1.5% – Breaks $1200

The price of gold shot up about 1.5% today, breaking through the technically significant barrier of $1200. Gold closed around $1185 on Wednesday, and rallied today to a peak of $1206. It now hovers around $1202. The jump in price comes on the news that the Federal Reserve is likely to keep the federal funds […]