Business Closed SchiffGold | James Alexander Michie

Gold and silver sold off when Russia announced that it had an effective vaccine for coronavirus. This plays into the myth that a cure for COVID-19 will cure the economy. But there is plenty of evidence suggesting the damage to the economy is deep and will likely have long-lasting impacts […]

Gold Bar Closeup SchiffGold | James Alexander Michie

Gold broke through $1,900 on Friday morning and kept pushing upward, setting an all-time record during Asian trading hours on Monday. Gold was trading as high as $1,944 an ounce early Monday. The previous record price for gold came in the third quarter of 2011 at just over $1,920 an […]

Closed Sign SchiffGold | James Alexander Michie

Permanent business closures are rising as the economic impacts of the coronavirus-induced government shutdowns continue to ripple through the economy. This is yet another sign that the promised “v-shaped” economic recovery will likely never materialize. Business closures on Yelp peaked about 177,000 on April 19 and fell to 132,500 as […]

Gold Bars SchiffGold | James Alexander Michie

Over the last few weeks, a number of mainstream banks and financial institutions have issued bullish outlooks for gold, forecasting record prices. Citibank projects $2,000 gold by early next year. Goldman Sachs now sees record gold prices within the next 12 months. And Bank of America released a note saying […]