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Peter Schiff on The Daily Show
Peter Schiff was interviewed by Jon Stewart last night on the parody news show ‘The Daily Show’. I say parody, but it is generally acknowledged to be more informative than most mainstream news (surveys consistently point out that people who get ‘most of their news’ from The Daily Show are more informed than those who get their news from other sources).
Perhaps it is apt then, that the parody news anchor started with clips of Peter Schiff being laughed at and heckled as he warned of the impending recession way back in 2006 and 2007. This has struck quite a nerve, possibly because…
23Jul2009 | The Gold Blog | 0 comments | ContinuedGold Investments Market Update
Gold and silver fell yesterday ($923.30 down $29.70; Silver $13.34 down 52 cents) on profit taking and renewed risk appetite which saw equities rally internationally (prior to a late sell off in the US) and the dollar rally after its recent sharp falls.
Macroeconomic, systemic and monetary risk has seen the dollar, the euro and more particularly sterling fall versus gold in recent months. Gold would have likely risen by much more were it not for likely central bank and bullion bank gold sales which have artificially capped the price.
International quantitative easing, zero percent interest rates and competitive currency devaluations will…
25Mar2009 | The Gold Blog | 1 comment | ContinuedGold Investments Market Update
Gold surged 8% yesterday (as is the norm, the far smaller market that is silver surged by even more and was up by 13.3%) as the shock Federal Reserve announcement led to concerns regarding the dollar and the inflationary implications of massive money printing and debasement of the currency.
The dollar has fallen sharply against all currencies and particularly against the finite commodity and currency of gold which cannot be debased. In just two days the dollar has fallen from below 1.30 (EUR/USD) to over 1.37 (EUR/USD) despite concerns regarding the European economy.
Concerns about the dollar are justified and real. This…
20Mar2009 | The Gold Blog | 0 comments | ContinuedGold Investments Market Update
Gold and silver rallied over 1% and 2% yesterday as stock markets barely made gains in the US. Asian stock markets were mixed but the Nikkei fell 2.5% and most European markets are showing weakness again this morning and gold remains firm.
Demand for gold remains extremely robust with broad based demand from both retail and pension investors but also now from very large players such as high net worth individuals, hedge funds, sovereign wealth funds (Government of Singapore Investment Corp – GIC) and central banks diversifying into gold.
The world’s central banks were net buyers of an estimated 1.1 million oz in…
12Mar2009 | The Gold Blog | 0 comments | ContinuedGold Investments Market Update – Oracle of Omaha Warns of “Onslaught of Inflationâ€
Gold rose sharply in Asia and was up by more than $10 per ounce before trading even commenced on the TOCOM – it rose from $941.60/oz to nearly $960/oz but has given up some of those gains in early trading in London and is now trading back at $950/oz.
Gold and silver fell over 5% and 9% last week after surging in the previous weeks and remain up nearly 8% and 17% so far in 2009. In the short term anything can happen in all of these markets and volatility remains very high in all markets. Correction and consolidation was expected…
3Mar2009 | The Gold Blog | 0 comments | ContinuedGold Investments Market Update – Gold to Reach $5000/oz According to Respected Goldcorp Founder
Gold surged a further 3.3% yesterday to $942.45 (as did silver) as worries about the US and global financial system and economy continue to grow and governments print money on an unprecedented scale to combat the economic crisis. Asian and European stock markets are again under pressure this morning.
The strong close above $930/oz yesterday should see us once again challenge the record highs of $1,003/oz seen last March (March 17th) when Bear Stearns collapsed.
We have since had a long period (nearly 12 months) of correction and consolidation and thus a solid foundation has been built from which the next leg…
12Feb2009 | The Gold Blog | 1 comment | ContinuedGold Investments Market Update – Gold Surges – Federal Reserve Balance Sheet Explodes
Gold rose by just over 1% yesterday to over $900/oz as renewed risk aversion saw stock and bond markets come under pressure.
Gold subsequently traded sideways in Asia prior to another strong rally at 0800 GMT when gold surged from $901/oz to $926/oz in the hour. It has since given up some of those gains but remains above $920/oz. Demand remains very high internationally for ETFs, gold certificates and bullion coins and bars.
There is a gradual realisation that zero percent interest rates, quantitive easing, trillion dollar bailouts and printing money to buy government bonds is leading to currency debasement. This monetary…
30Jan2009 | The Gold Blog | 0 comments | ContinuedGold Investments Market Update – Gold Surges on Obama’s Inauguration Day – Concerns regarding Asset Backed Derivatives and ETFs
It is a historic day for the world with the inauguration of the 44th President of the United States of America.
Gold has rallied by more than 2% despite continuing dollar strength and oil having collapsed 7% to just over $34 per barrel (Light Sweet Crude Oil Future – Combined – FEB09 : -7.6%) . While the dollar is up on hopes that President Obama can turn around the ailing US and indeed the global economy, stock markets internationally are under pressure again today with increasing concerns regarding the international banking and financial system.
Obama’s has been left an unholy mess by…
21Jan2009 | The Gold Blog | 0 comments | ContinuedGold Investments Market Update – Many Government Mints, Wholesalers and Refiners Internationally Continue to Ration Gold and Silver Bullion
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Gold is marginally lower today despite sharply weaker oil prices (Light Sweet Crude Oil Future – Combined – FEB09 : -5.14%) and a slightly higher dollar (US DOLLAR INDEX: 83.01 +0.6%).
There was significant volatility last week and such volatility often portends a big move up or down. Given the strong fundamentals, gold’s next move is likely to be up, especially as investment demand for gold coins, bars, certificates and exchange traded funds remains very robust.
Concerns regarding the dollar’s long term health (and other major currencies) given the likelihood of trillion dollar deficits in the next few years are likely contributing…
14Jan2009 | The Gold Blog | 0 comments | ContinuedGold Investments Market Update – Geopolitical Risk Escalates and Will Lead to Further Safe Haven Demand
Gold has commenced the New Year as it did in 2008 – up sharply in early trading before selling off somewhat. Gold surged (along with oil) on the open in Asia on geopolitical concerns with the Israeli military offensive against Gaza escalating. However, with oil giving up some of its earlier gains and the dollar stronger against most currencies so far this morning, gold has given up its earlier gains.
The reemergence of geopolitical concerns in the Middle East (and with Russia) is likely to see gold well bid in the mid $800s/oz. In recent years, geopolitical risk has been greatly…
6Jan2009 | The Gold Blog | 0 comments | Continued
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