Peter Schiff’s Official Gold Blog

Jim Grant: Gold Is a Bet against Fiat Money

admin — Fri, 24 May 2013 21:49:05 +0000

Enjoy this interesting CNBC interview with Jim Grant in which he analyzes the ambiguous statements coming out of the Fed this week. He doesn’t think the Fed is likely to unwind QE anytime soon, and that this experiment in unprecedented money printing will likely end in disaster. However, Grant does point out that gold is the perfect hedge against a collapsing currency.

“[Gold is] money. It certainly is a hedge against unscripted outcomes of monetary affairs. It is an investment in the tendency of government issued paper money to depreciate in value. It’s an investment in that…”

Today’s Key Gold Headlines – 5/24/13

admin — Fri, 24 May 2013 14:34:51 +0000

Gold Heads for Best Week in Four as Stocks Retreat, Reuters

Yuan Gold Trade in Hong Kong Triples as Currency Gains Cut Risk, Bloomberg

Gold Traders Most Bullish in a Month after Bernanke, Bloomberg

The Biggest Loser Wins

admin — Thu, 23 May 2013 21:58:12 +0000

In his latest commentary, Peter Schiff explains the dynamics of a currency war and the disastrous consequences for the citizens of any country that participates in one. The Japanese are particularly intent on destroying the yen, though the United States remains in the lead with a dollar that no longer reflects any real fundamental value.

“While the world’s economies jockey one another for the lead in the currency devaluation derby, it’s worth considering the value of the prize they are seeking. They believe a weak currency opens the door to trade dominance, by allowing manufacturers to undercut foreign rivals, and to economic growth, by fighting deflation. On the other side of the coin, they believe a strong currency is an economic albatross that leads to stagnation. But the demonstrable effects of currency strength and weakness reveal the emptiness of their theory.

A country that attracts investment from abroad (through stable and fair governance, low taxes, a growing economy, and a productive labor force) and produces goods that are in demand on the global stage will generally see a rising currency. In essence, this is the reward for a job well done. Strong currencies then help nations stay strong by conferring greater purchasing power to its citizens and businesses, which keeps input costs low, thereby enhancing international competitiveness. Strong currencies also encourage savings, keep real interest rates low, lower capital costs, and allow for greater productivity and higher real wages.”

Continue Reading Peter’s Commentary

Today’s Key Gold Headlines – 5/23/13

admin — Thu, 23 May 2013 15:00:47 +0000

Gold Up as Dollar, Shares Slide after China, Europe Data, Reuters

Doug Casey on Gold Conspiracies and Fluctuations

admin — Wed, 22 May 2013 19:38:50 +0000

The Daily Bell published an extensive interview with Doug Casey of Casey Research last weekend. Casey expounds on gold in depth, including a lengthy dissection of gold price manipulation theories. He then moves on to talk about the dollar, the euro, and the state of the global economy in general.

“I’m not concerned about gold being down because markets fluctuate. And considering that gold’s been in a bull market for a dozen years, I’m very unconcerned about the fact that it’s come off. All the fundamentals that underlie the bull market are still in place…

Personally, I’m no longer dealing in gold in the futures markets, but I do buy gold almost every month and sometimes significant quantities of it. I don’t see gold as a trading vehicle, but rather as the only financial asset that’s not simultaneous”

Click Here to Read the Full Interview

Today’s Key Gold Headlines – 5/22/13

admin — Wed, 22 May 2013 14:45:22 +0000

Gold Gains on US Stimulus Hopes; Bernanke Eyed, Reuters

Gold Is Still Relevant as Insurance Policy, Franklin’s Land Says, Bloomberg

Peter Schiff: Gold Market May Be Testing Bottom (Video)

admin — Tue, 21 May 2013 18:13:22 +0000

In his latest video blog, Peter Schiff looks at the sources of the alleged strength of the stock market and US dollar. He also analyzes the gold and silver markets in depth, countering the argument that the gold bull market is dead.

“The drumbeat for the death of the gold bull market has never been louder… I’ve never seen so much negativity despite the fact that there’s never been more reason to be positive… I think this newfound pessimism is going to create the back drop…that can launch the market into new highs.”

Today’s Key Gold Headlines – 5/21/13

admin — Tue, 21 May 2013 14:41:50 +0000

Gold’s Double Bottom Signals Rally to $1,500, Bloomberg

Platinum Buying Quickens as Gold Allure Diminishes, Bloomberg

Semi-Purified Gold Bars May Find a Passage to India, Economic Times

Peter Schiff on Gold Seek Radio (Audio)

admin — Mon, 20 May 2013 22:25:58 +0000

Peter Schiff was on Gold Seek Radio last week to discuss the latest correction in the gold price and to review the overall state of the global gold market.

“I don’t see any evidence that the investors are leaving the [gold] market… It’s the speculators that are being flushed from the market and how is that a bad sign? That’s always been a good sign, when you take the froth off the bull market, because weak players are flushed out… So to me, this has all the look of a correction of a bull market… “

Peter’s Interview Begins at 1:10:30 Below

Today’s Key Gold Headlines 5/20/13

admin — Mon, 20 May 2013 14:49:11 +0000