Precious metals news

For some, time is an opportunity to take action– to quietly take defensive steps like moving money abroad. Greeks had the opportunity to do that long ago when the euro […]

This post was submitted by Addison Quale, SchiffGold Precious Metals Specialist. Any views expressed are his own and do not necessarily reflect the views of Peter Schiff or SchiffGold.
You know, it’s funny. When someone is known to have a valuable treasure, everyone around them surely covets it. In fact, if it’s really really valuable, many would try to get their hands on it, perhaps by offering to trade for it, or even by trying to steal it outright. But as long as the owner knows the true value of their treasure, they’re not likely to let it go easily.
But therein lies the key to getting at that treasure. What if you were able to convince the owner that their treasure really wasn’t that valuable? What if you could trick them into thinking it was worthless, run of the mill, and just a beat up old piece of junk? What if you slowly deceived them into thinking their treasure was just a “barbarous relic”?
Perhaps you already know where I am going with this and have seen Mar...

China will reportedly create a yuan-denominated physical gold price setting mechanism through the Shanghai Gold Exchange (SGE) by the end of the year.
According to a Reuters report, the plan aims to give China more influence over gold pricing. The country already leads the world in production and consumption of gold bullion.

Greece has closed its banks and instituted capital controls. The measures will remain in effect until at least July 6th, the day after a popular referendum on European bailout aid is due to take place.
Rather than agree to further austerity measures in exchange for an extension of financial aid from its international creditors, Prime Minister Alexis Tsipras surprised markets by putting the decision to a popular vote. Greece’s current bailout program expires tomorrow, when a 1.6 billion euro payment to the International Monetary Fund also comes due.
Stock markets across the globe fell on the news, and gold rose about 0.7%.
Bloomberg reports that Greece’s capital controls include:

This is like nothing we've ever done before...

The only way to prevent financial Armageddon is to declare all markets on holiday. However, the most interesting market to watch will be the re-pricing of the market for physical precious […]

“There is very little time left, we are talking about minutes and seconds..."

The market value of European banks has shrunk by more than €50 billion after Greece shut down its banks until July, 6, the day after the referendum on the bailout […]

Forget Greece. We’ve seen that story before. This could be the first domino: The Chinese market is in an all-on crash.

As a former trader, I know that if I were holding China’s cards, I would accumulate a massive position in gold and a massive short in the dollar and then […]

Based on the reaction overnight by the stock market futures to the EU/Greek situation- I would hazard the opinion that the zombies on CNBC were slighly off-base when they asserted last […]

With Greek banks and market closed Monday as Greece prepares to default, Chinese markets were ROUTED overnight. Has "THE BIG ONE" begun? 

Would a new producer cartel - a “de Beers of Silver” even the playing game with the banking cabal's massive manipulation of silver? 

With Greek contagion already spilling over to Italy, China, and now even Puerto Rico, LIVE UPDATES on the rapidly evolving Greek Debt Crisis are below: *Breaking: Greece WILL NOT Repay €1.6 […]

The rocket-fueled ascent of Asia is now an old story.   So perhaps we shouldn’t be bothered by BCG’s latest report which shows private Asian wealth has just surpassed Europe’s for […]

Has CRUSHING inflation already arrived in many US cities?

The fact of the matter is that all along the way, true risk has never been accounted for-or factored in.  It’s been papered over - literally.  Risk is akin to […]

Is this the beginning of the end for the eurozone?  For years, European officials have been trying to “fix Greece”, but nothing has worked.  Now a worst case scenario is […]

How is this even legal? That's a serious question and I'd like a serious answer after the you read what is presented below:

*Update: Greece officially passes Capital Controls Act - Banks to Remain closed until July 6th, ATM Withdrawals Limited to €60/day "He who panics first panics best." It appears the phrase might […]