Feb 11, 2025: Peter Schiff stated that his company is experiencing that many people are selling their gold coins to his company but that sales to customers are low. He also states that the premiums are at a record low. According to him selling ones gold coins at this time is not wise. He states that the central banks continue to buy gold but they are not buying silver due to the huge storage problem. My opinion: I believe he is right on target.
Thanks for the mention John! Great points, and indeed, there's strong monetary + price momentum behind it, and clearing 3k will be a potential catalyst/trigger to further upside... but it is indeed a little overbought short-term and as Peter Brandt noted there is the curse of 1000 to navigate (gold stumbled on its way past $1k and $2k), so a "complex" outlook.
Really enjoyed reading this and those charts are incredibly useful in order to visually see what Gold normally does over a 12 month period. A few people are expecting $3,000 at least and I would whole heartedly agree with that. There will very likely be a gnarly correction at some point this year (affecting all markets) and after that then Gold (and Silver) will likely go even higher :-)
I don’t know if the typical pull back rules apply when central banks are buying massive amounts of gold. China’s insurance companies are now allowed to buy gold as a reserve. Seems many money managers are taking delivery now and depleting supply. The LBMA/COMEX doesn’t seem to have much control over gold pricing. Not so with silver yet.
Not sure if this atypical situation needs a correction.
PS: The big dilemma in my mind is the prevailing idea that a major stock market "correction" is "imminent" and long overdue (supposedly, insiders liquidating), and that "stocks are stocks" and that even the downtrodden like miners and resource stocks (and gold) will all go down too in such an event, so better to stay on the sidelines until then.
You know I follow all gold/silver market news these days….admittedly I’m obsessed….what trips me out is how the most important story of my lifetime is being COMPLETELY ignored by Americans….commonly I see posts like these with less than 20 likes….UNBELIEVABLE
Charts are open to Interpretation of the Viewer. I see Long Term Positives for Gold from Every Chart. If then the History of Money, and Fiat Money especially, is Entered in as a Factor, then Gold is a Definite Preservation of Wealth.
Silver while lagging behind Gold, is Still quite Informative. Having lived Pre-1964 and actually handling Silver Coins in everyday living; It's quite eye opening that $5.00 of pre 64 Silver coins now is available for over $100.00 fiat paper.
With Banks out forecasting "gold will go higher that 3,300", and the elevated lease rates to borrow gold (futures), seems that there may well be more upside to gold -- Gold Revalation will be a truly exogenous shock. It is time to revalue as a way to prevent China from taking delivery at the low prevails future contract prices. Just taking the massive growth in global money supply M1 (fiat) as the numerator and dividing by the known global gold supply (above ground), you can calculate gold prices need to move north of $10,000. My Outlook for gold remains very bright, and for miners more so.
Follow me at my free Substack "Resourceful Insights" where I have recently covered K91, BlueLagoon, AGI, Goliath, DollyVarden, Juggernaught, Nevada King with more articles coming.
I’m personally starting to believe gold is getting revalued. Every jr miner is a lotto ticket on a much larger gold price coming. Bessent was just in the Oval Office talking about revaluing the countries assets.
Well, I hope there's a pullback. I recently sold out of my big GDX and GDXJ positions because I had reached certain goals and suspected a pullback after gaining more than 25% since Jan 1. As of this writing I seem to have left another 5% or so on the table but I'm still not concerned. Successful traders go for the middle 60% of total gains, buying in after an up leg is confirmed (usually after the first 20% of the up leg) and selling after reaching exit strategy parameters, which often misses out on the final 20% of an up leg.
So far, so good - I guess - but it still sucks. Nothing wrong in taking a profit though, right? At least that's what I'm telling myself.
Hopefully everything will pullback for my birthday and I can jump back in at lower levels.
Normal reasoning would suggest that as this piece shows, but - then again - we're talking about inscrutable gold and the fickle financial markets.
Agree. Gold has probably run up too fast particularly when the Fed balance sheet has been flat for a while. Ed Dowd and Lacy Hunt are forecasting deflation. I would actually welcome lower prices.
FWIW, I'm starting to think that "conventional" patterns and analysis may be on their way out. I say that because of the (positively) disruptive factor of Trump and DOGE.
It is now a plausible scenario (not yet to be confused with likely) that we are looking at an audit of the Fed, to be followed by its dissolution AND/OR gold backing for the dollar (which implies a massively higher per ounce valuation on gold AND/OR a "great reset" of our dollar and financial system, albeit on MAGA terms rather than WEF terms.
Soooo ... "smart" money may be sensing big changes coming and are positioning themselves accordingly.
Tom, you might be right about the "smart" money boys, but the Government and Wall Street gang will not change their ways until they suffer and admit to failed bond auctions. Of course it then will be too late!
Fair point. I don't have a crystal ball, but I think that our Federal Reserve + post-1971 100% fiat monetary system is rapidly approaching the point where "all the king's horses, and all the king's men" can't keep it going any longer.
Gold thinks that all that isn't there is the WE. The WE wants the Rubino to return to returning the returning to the WE's way to demonstrate that the State that the Union faces thinks that cryptos will outperform the golds, winning both precious metals and the mining ways to return to the water that spells this: not into harming the Mother anymore by blowing up the ground.
The WE compels the miners to return to allowing Her to heal. The stocks that the Dow Jones and the other exchanges market try too hard to hold to the madness that deregulatory ways begin to have the markets flat line. That's because cryptos will fly. Flying is fun!
Birds fly. Need to have more easy money for the beings not affiliated with the central bankers.
Feb 11, 2025: Peter Schiff stated that his company is experiencing that many people are selling their gold coins to his company but that sales to customers are low. He also states that the premiums are at a record low. According to him selling ones gold coins at this time is not wise. He states that the central banks continue to buy gold but they are not buying silver due to the huge storage problem. My opinion: I believe he is right on target.
Perhaps the mining costs just haven't caught up with inflation yet.
Thanks for the mention John! Great points, and indeed, there's strong monetary + price momentum behind it, and clearing 3k will be a potential catalyst/trigger to further upside... but it is indeed a little overbought short-term and as Peter Brandt noted there is the curse of 1000 to navigate (gold stumbled on its way past $1k and $2k), so a "complex" outlook.
Really enjoyed reading this and those charts are incredibly useful in order to visually see what Gold normally does over a 12 month period. A few people are expecting $3,000 at least and I would whole heartedly agree with that. There will very likely be a gnarly correction at some point this year (affecting all markets) and after that then Gold (and Silver) will likely go even higher :-)
I don’t know if the typical pull back rules apply when central banks are buying massive amounts of gold. China’s insurance companies are now allowed to buy gold as a reserve. Seems many money managers are taking delivery now and depleting supply. The LBMA/COMEX doesn’t seem to have much control over gold pricing. Not so with silver yet.
Not sure if this atypical situation needs a correction.
PS: The big dilemma in my mind is the prevailing idea that a major stock market "correction" is "imminent" and long overdue (supposedly, insiders liquidating), and that "stocks are stocks" and that even the downtrodden like miners and resource stocks (and gold) will all go down too in such an event, so better to stay on the sidelines until then.
You know I follow all gold/silver market news these days….admittedly I’m obsessed….what trips me out is how the most important story of my lifetime is being COMPLETELY ignored by Americans….commonly I see posts like these with less than 20 likes….UNBELIEVABLE
Charts are open to Interpretation of the Viewer. I see Long Term Positives for Gold from Every Chart. If then the History of Money, and Fiat Money especially, is Entered in as a Factor, then Gold is a Definite Preservation of Wealth.
Silver while lagging behind Gold, is Still quite Informative. Having lived Pre-1964 and actually handling Silver Coins in everyday living; It's quite eye opening that $5.00 of pre 64 Silver coins now is available for over $100.00 fiat paper.
I shoulda Stuffed my pockets !!!
Great Work John… nice “cleavage’ between the actual Gold Price and the potential for the miners to still go North.
Thanks!
With Banks out forecasting "gold will go higher that 3,300", and the elevated lease rates to borrow gold (futures), seems that there may well be more upside to gold -- Gold Revalation will be a truly exogenous shock. It is time to revalue as a way to prevent China from taking delivery at the low prevails future contract prices. Just taking the massive growth in global money supply M1 (fiat) as the numerator and dividing by the known global gold supply (above ground), you can calculate gold prices need to move north of $10,000. My Outlook for gold remains very bright, and for miners more so.
Follow me at my free Substack "Resourceful Insights" where I have recently covered K91, BlueLagoon, AGI, Goliath, DollyVarden, Juggernaught, Nevada King with more articles coming.
A sample:
https://resourcefulinsights.substack.com/p/blue-lagoon-is-not-just-a-place-in
I’m personally starting to believe gold is getting revalued. Every jr miner is a lotto ticket on a much larger gold price coming. Bessent was just in the Oval Office talking about revaluing the countries assets.
Well, I hope there's a pullback. I recently sold out of my big GDX and GDXJ positions because I had reached certain goals and suspected a pullback after gaining more than 25% since Jan 1. As of this writing I seem to have left another 5% or so on the table but I'm still not concerned. Successful traders go for the middle 60% of total gains, buying in after an up leg is confirmed (usually after the first 20% of the up leg) and selling after reaching exit strategy parameters, which often misses out on the final 20% of an up leg.
So far, so good - I guess - but it still sucks. Nothing wrong in taking a profit though, right? At least that's what I'm telling myself.
Hopefully everything will pullback for my birthday and I can jump back in at lower levels.
Normal reasoning would suggest that as this piece shows, but - then again - we're talking about inscrutable gold and the fickle financial markets.
With 'America First', will the new powers that be allow the Pebble mine in Alaska to finally proceed? I'm keeping a close eye on it!
Agree. Gold has probably run up too fast particularly when the Fed balance sheet has been flat for a while. Ed Dowd and Lacy Hunt are forecasting deflation. I would actually welcome lower prices.
FWIW, I'm starting to think that "conventional" patterns and analysis may be on their way out. I say that because of the (positively) disruptive factor of Trump and DOGE.
It is now a plausible scenario (not yet to be confused with likely) that we are looking at an audit of the Fed, to be followed by its dissolution AND/OR gold backing for the dollar (which implies a massively higher per ounce valuation on gold AND/OR a "great reset" of our dollar and financial system, albeit on MAGA terms rather than WEF terms.
Soooo ... "smart" money may be sensing big changes coming and are positioning themselves accordingly.
Tom, you might be right about the "smart" money boys, but the Government and Wall Street gang will not change their ways until they suffer and admit to failed bond auctions. Of course it then will be too late!
Fair point. I don't have a crystal ball, but I think that our Federal Reserve + post-1971 100% fiat monetary system is rapidly approaching the point where "all the king's horses, and all the king's men" can't keep it going any longer.
Gold thinks that all that isn't there is the WE. The WE wants the Rubino to return to returning the returning to the WE's way to demonstrate that the State that the Union faces thinks that cryptos will outperform the golds, winning both precious metals and the mining ways to return to the water that spells this: not into harming the Mother anymore by blowing up the ground.
The WE compels the miners to return to allowing Her to heal. The stocks that the Dow Jones and the other exchanges market try too hard to hold to the madness that deregulatory ways begin to have the markets flat line. That's because cryptos will fly. Flying is fun!
Birds fly. Need to have more easy money for the beings not affiliated with the central bankers.