Peter's Blog

Nearly One-Quarter of Central Banks Plan to Buy More Gold in Next 12 Months

Over the last several years, central banks globally have added gold to their reserves at a historically high rate. It doesn’t appear the buying spree will end anytime soon. According to the World Gold Council 2023 Central Bank Gold Reserve survey, 24% of central banks plan to add more gold to their reserves in the […]

Understanding Premiums

When we talk about the spot price of gold and silver, or the return on precious metals investments, some people are quick to remind me that I’m not factoring in premiums. What exactly are premiums?

Faced With New Round of Demonetization Indians Turn to Gold

The Indian central bank has announced another round of demonetization with a plan to withdraw 2,000-rupee notes from circulation. The announcement led to a big jump in gold bullion sales. The 2,000-rupee note will remain legal tender, but they will have to be deposited or exchanged for smaller denominations by Sept. 30.

Americans Rank Gold as Second-Best Long-Term Investment

Americans consider gold the second-best long-term investment option, according to a recent Gallup poll. Gold beat out stocks, bonds and savings accounts. The perception that gold is the best investment over the long term rose from 15% in 2022 to 26% in the 2023 poll, overtaking stocks at the number two spot.

Citigroup Projects $30 Silver in the Next 6 to 12 Months

Citigroup projects silver could rise to $30 an ounce in the next six months to a year. With silver currently in the $23.00 range, this represents a possible 30% return.

Poland Resumes Buying Gold

Poland is buying gold again. The  National Bank of Poland added nearly 15 tons of gold to its reserves in April, according to data published by the bank last week. It was the largest increase in the country’s reserves since June 2019 when the bank boosted reserves by almost 100 tons.

Who Has the Gold?

Which countries hold the most gold? Central banks around the world have been piling up gold. After a record-setting 2022, central bank gold reserves increased by 228 tons through the first three months of 2023, a Q1 record. This was 38% higher than the previous first-quarter record set in 2013.

Florida and Indiana Pass Laws Banning the Use of a CBDC as Money in the State

Laws recently enacted in Florida and Indiana ban the use of a central bank digital currency (CBDC) as money in those states.

Federal Tax Revenues Tank as Biden Administration Goes Right on Spending

The US government ran a surplus in April, as it generally does in tax return month. But federal tax revenues collapsed year-on-year and the fiscal 2023 deficit is still close to $1 trillion despite the small April windfall.

Gold ETFs Record Net Inflows for Second Straight Month in April

For the second straight month, gold flowed into ETFs in April. Globally, gold-backed ETFs reported net inflows of 15 tons last month, reflecting an increase of about $824 million.