Tuesday , August 11 2020
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Tag Archives: Investing

ETF Gold Holdings Increase for Eighth Straight Month

ETFs globally added another 166 tons of gold in July. It was the eighth straight month of inflows of metal into gold-backed funds. That pushed total ETF gold holdings to another record high of 3,785 tons, according to the latest data from the World Gold Council.With gold hitting an all-time record high at the end of the month, global assets under management stood at $239 billion at the close of July.So far this year, gold-backed funds have taken in 899 tons of gold. Over the first six...

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Peter Schiff: The Most Unloved Gold Bull Market I’ve Ever Seen

Last week was a big week for precious metals. Gold broke above $2,000 an ounce and kept climbing, pushing over $2,075 later in the week. Meanwhile, silver blew through $28 and $29 ounce on Thursday and knocked on the door of $30. But even with another week of solid gains, there still seems to be a lot of skepticism about precious metals. Peter talked about gold’s bull run on his podcast and said it’s the most unloved gold bull market he’s seen in his entire career.On Friday, we did finally...

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An Express Elevator Ride Up: SchiffGold Friday Gold Wrap Aug. 7, 2020

Last week, gold broke its all-time record. This week, the express elevator kept going right up taking both gold and silver with it. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks about gold’s push above $2,000 an ounce and silver’s even bigger gains. He also talks about the dynamics driving precious metals higher and why he doesn’t think we’re anywhere near the top floor. The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the week’s precious...

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Silver Breaks Above $28 an Ounce

The price of silver broke above $28 an ounce Thursday morning.In the last 30 days, silver has gone up by nearly 54%. On the year, the white metal is up over 71%.Even with these big gains, silver remains historically undervalued compared to gold.Even as gold has broken all-time records this week and is trading well above $2,000 an ounce for the first time ever, silver remains more than $20 below its all-time record.The white metal has a double-top of around $50. It first got to that level...

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Peter Schiff: People Don’t Understand the Significance of $2,000 Gold

Gold reached a new milestone Tuesday, breaking above $2,000 for the first time ever. The yellow metal closed just above $2,017 an ounce. Peter talked about gold’s new record high and what it’s telling us in his latest podcast. He says most people still don’t really understand the significance of $2,000 gold.Peter noted that when gold first peaked its head above $2,000, it immediately sold off. He said that kind of nervousness is exactly what he wants to see in a gold bull market.Instead of...

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$2,000 Gold!

Gold pushed above $2,000 an ounce for the first time ever on Tuesday.The spot price broke through $2,000 a little after noon and then immediately sold off over the next 10 or 15 minutes. In a tweet, Peter Schiff said, “You know the gold bull has a long way to run when the first reaction traders have to gold finally breaking above $2,000 is to sell.”The selloff didn’t last long. Gold fell to about $1,995 and drove back above $2,000 over the next hour or so. By 4 p.m. eastern, the spot price...

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Despite Big July Gains Silver Still Historically Undervalued

Silver futures were up 25% in July, the second-biggest monthly gain for the white metal on record.And silver is still significantly undervalued compared to gold. The spot price of the white metal gained even more than silver futures last month. When gold pushed above its previous record price last week, silver went along for the ride, rising to nearly $26 an ounce. It has settled back and is currently trading in the $24 range. On June 29, silver closed at just over $18 an ounce. That’s a...

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Record Gold! SchiffGold Friday Gold Wrap July 31, 2020

Gold broke its all-time price record on Monday and has held above that level through the week. What is this telling us? In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks about the record-breaking week and what’s driving it. He also speculates about where we may go from here. Along the way, he gives an overview of this week’s Federal Reserve meeting and highlights some perspectives coming out of the mainstream.The SchiffGold Friday Gold Wrap podcast combines a...

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Peter Schiff: The Dollar Is Not Just Going Down; It’s Going to Crash

As gold was closing in on its all-time record price last week, Peter Schiff appeared on the Claman Countdown and warned about the looming dollar crisis.Claman set up the interview pointing out that Peter predicted this big move up in gold months ago and asked, “What’s your new prediction about the dollar?”Peter said it’s not really a new prediction, but perhaps it’s more timely.The dollar’s not just going down. It is going to crash.”Prior to the interview, Claman...

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Peter Schiff: The Fed Doesn’t Have Another Rabbit in Its Hat

Gold has rallied above its previous all-time record high this week. But can it sustain this bull run? Peter Schiff thinks it can and will.It’s not about the coronavirus, as many mainstream analysts seem to think. It’s the government and central bank response to the pandemic — the borrowing, the spending, and the money printing. Peter believes that ultimately the Fed’s monetary policy is going to collapse the dollar and it will lose its reserve status. In this podcast, he talked about what...

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