Gold closed the week at $2,722 (up $65 since last week) and silver at $33.71 (up $2.19). We discuss the metals recent meteoric rise amid weak economic data and growing stress on major banks. We also unveil a new series on ancient wisdom.

OTHER TOPICS DISCUSSED

-Department of Labor reports 241,000 new unemployment claims
-Empire State manufacturing index falls to -11.9
-Recent surveys shows 66% of voters view economy as "very or somewhat poor"
-Junk silver sale at $1.95 above spot
-Key headlines for next week
-Modern Finance, Ancient Wisdom, www.schiffgold.com/research-analysis/old-testament

Quote of the Week:

Get wisdom, and whatever you get, get insight. Prize her highly, and she will exalt you."

- Proverbs 4:7-8

The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the week’s economic precious metals news coupled with thoughtful analysis. You can subscribe to the podcast on Apple Podcasts and other podcasting platforms. The links are below.

SchiffGold on Instagram: www.instagram.com/schiffgoldnews
SchiffGold on Twitter: twitter.com/SchiffGold
SchiffGold on Facebook: www.facebook.com/schiffgold
SchiffGold's website: www.schiffgold.com

Modern Finance, Ancient Wisdom: SchiffGold Friday Gold Wrap 10.18.2024

Gold closed this week at $2,746 (up $24 since last week) and silver at $33.69 (about the same). What could the second US bank failure of 2024 and the global BRICS Summit mean for gold and silver?

OTHER TOPICS DISCUSSED

-US Leading economic indicators fell by 0.5% in September
-Citibank and Goldman Sachs analysts warn of slower growth
-ECB Hints at continued Eurozone rate cuts
-Bank of Canada lowers interest rates to 3.75%
-IMF downgrades global growth forecast
-OCC shuts down First National Bank of Lindsay
-CME tightens margin requirements on gold and silver

Key headlines for next week

Quote of the Week:

It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.”

- Henry Ford

The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the week’s economic precious metals news coupled with thoughtful analysis. You can subscribe to the podcast on Apple Podcasts and other podcasting platforms. The links are below.

SchiffGold on Instagram: www.instagram.com/schiffgoldnews
SchiffGold on Twitter: twitter.com/SchiffGold
SchiffGold on Facebook: www.facebook.com/schiffgold
SchiffGold's website: www.schiffgold.com


BRICS and Bank Failures: SchiffGold Friday Gold Wrap 10.25.2024

Gold hit an all-time high of nearly $2,800 this week, closing at $2,735 (down $11 since last week) and silver at $32.44 (down $1.25). JD and Joel discuss gold's new all-time high, how economic weakness, elections, and central bank moves are impacting demand for gold and silver.

APPROXIMATE TIMESTAMPS
00:00 - Introduction and Seasonal Reflections
02:23 - Economic Data Overview
06:43 - Market Reactions and Predictions
10:55 - Gold's Performance and Central Bank Strategies
15:42 - Understanding Intrinsic and Melt Value
20:38 - Looking Ahead: Upcoming Economic Indicators

Quote of the Week:

The fundamental problem is that, while we might wish to delegate all problems to government, there are many which the government is simply incapable of solving. A government can enforce rules and provide a framework within which people can work together, but it can neither foresee nor direct all of the effects of individual choices within the market.”

- Friedrich Hayek

The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the week’s economic precious metals news coupled with thoughtful analysis. You can subscribe to the podcast on Apple Podcasts and other podcasting platforms. The links are below.

SchiffGold on Instagram: www.instagram.com/schiffgoldnews
SchiffGold on Twitter: twitter.com/SchiffGold
SchiffGold on Facebook: www.facebook.com/schiffgold
SchiffGold's website: www.schiffgold.com

The above references an opinion and is for information purposes only. It is not intended to be investment advice.


Gold Nears $2,800 New All Time High: SchiffGold Friday Gold Wrap 11.1.2024

This week, gold prices pulled back by around $50 from last week's levels, and silver dropped roughly a dollar. These movements coincided with the recent election of Donald Trump as the 47th President of the United States.

In this episode, things are a bit different with JD away, so Joel takes over to discuss the election results, share some exciting updates, and give a brief commentary on this week’s economic data.

Quote of the Week:

When the righteous [a]are in authority, the people rejoice;
But when a wicked man rules, the people groan.

– Proverbs 29:2

The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the week’s economic precious metals news coupled with thoughtful analysis. You can subscribe to the podcast on Apple Podcasts and other podcasting platforms. The links are below.

SchiffGold on Instagram: www.instagram.com/schiffgoldnews
SchiffGold on Twitter: twitter.com/SchiffGold
SchiffGold on Facebook: www.facebook.com/schiffgold
SchiffGold's website: www.schiffgold.com

The above references an opinion and is for information purposes only. It is not intended to be investment advice.

Trump Wins! Let’s Go! SchiffGold Friday Gold Wrap 11.8.2024

Gold closed this week at $2,562 (down $123 since last week) and silver at $30.23 (down $1.20). Joel discusses recent price action, recent USD gains, and why Trump faces a terrible dilemma around inflation.

OTHER TOPICS DISCUSSED:

(1:52) Official inflation rose to 2.6%, with core CPI still above target.
(2:15) Rate cut chance in December dropped from 65% to 27%.
(4:12) Retiree Debt Rises: 68% of retirees now carry credit card debt
(8:00) Dollar Hits 1-Year High: Dollar index climbed to 106.47
(10:15) Why Trump must cut spending to curb inflation

Quote: The inherent vice of capitalism is the unequal sharing of blessings; the inherent virtue of socialism is the equal sharing of miseries.

– Winston Churchill

The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the week’s economic precious metals news coupled with thoughtful analysis. You can subscribe to the podcast on Apple Podcasts and other podcasting platforms. The links are below.

The above references an opinion and is for information purposes only. It is not intended to be investment advice.

Trump's Debt Dilemma: SchiffGold Friday Gold Wrap 11.15.2024

Gold closed this week at $2,715 (up $153 since last week) and silver at $31.33 (up $1.10). Joel and JD discuss recent price action, 100k Bitcoin and why Goldman Sachs predict just 1% annual returns to the S&P 500 over the next decade.

OTHER TOPICS DISCUSSED
-Initial jobless claims came out at 213,000, beneath expectations.
-Consumer sentiment remains stagnant at 71.8.
-Household savings are dwindling while credit card debt is skyrocketing.
-Goldman Sachs analysts predict just 1% annual returns in S&P 500 over next decade

Quote: There is an old saying, If you’re not a liberal by the time you’re 22, you don’t have a heart. If you’re not a conservative by the time you’re 28, you don’t have a head. Well, a lot of 22-year-olds are buying Bitcoin, and Trump got their vote. He got their vote by pandering to their most important issue, which was getting rich off their Bitcoin

– Peter Schiff

The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the week’s economic precious metals news coupled with thoughtful analysis. You can subscribe to the podcast on Apple Podcasts and other podcasting platforms. The links are below.

The above references an opinion and is for information purposes only. It is not intended to be investment advice.

A New Lost Decade, JD's Farewell: SchiffGold Friday Gold Wrap 11.22.2024

Gold closed this week at $2,655 (down $60 since last week) and silver at $30.65 (down $0.70). Joel discusses troubling retail sales, Musk's meteoric rise and the department of government efficiency (DOGE).

OTHER TOPICS DISCUSSED
-FedWatch predicts 66% chance of rate cut December 18.
-U.S. GDP grew 2.8% quarter-over-quarter, meeting expectations.
-October new home sales fell below expectations to 610,000.
-October money supply rose 5.1%, highest in 15 months.
-Tesla stock surged 40%, boosting Musk's net worth $70 billion.

Quote: The most terrifying words in the English language are: I'm from the government, and I'm here to help

– Ronald Reagan

The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the week’s economic precious metals news coupled with thoughtful analysis. You can subscribe to the podcast on Apple Podcasts and other podcasting platforms. The links are below.

SchiffGold on Instagram: www.instagram.com/schiffgoldnews
SchiffGold on Twitter: twitter.com/SchiffGold
SchiffGold on Facebook: www.facebook.com/schiffgold
SchiffGold's website: www.schiffgold.com

The above references an opinion and is for information purposes only. It is not intended to be investment advice.

The DOGE Days: SchiffGold Friday Gold Wrap 11.29.2024

Gold closed this week at $2,625 (down about $30 since last week) and silver at $30.01 (up about $0.36). Joel discusses Black Friday sales, global economic challenges in India and China, and Bitcoin above 100k. Price action discussed at 10:40.

OTHER TOPICS DISCUSSED:

-Brick and mortar stores grew their traffic 3.8%.
-Gold has no diminishing marginal utility.
-CME Group will offer micro gold contracts in January 2025.
-India's RBI has a massive $60 billion short position.
-China's stimulus efforts are failing to revive the economy.
-European banks are favoring government bonds over private lending.
-Why gold may remain range-bound until 2025.
-Bitcoin has officially hit over $100,000 on the spot market.

QUOTE OF THE WEEK

Remember, that's how capitalism works. You get rich by enriching everybody who voluntarily does business with you. The money you make is a reflection of the work that you did, of the effort you put in, of the benefits that society derived from your work."

– Peter Schiff

The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the week’s economic precious metals news coupled with thoughtful analysis. You can subscribe to the podcast on Apple Podcasts and other podcasting platforms. The links are below.

SchiffGold on Instagram: www.instagram.com/schiffgoldnews
SchiffGold on Twitter: twitter.com/SchiffGold
SchiffGold on Facebook: www.facebook.com/schiffgold
SchiffGold's website: www.schiffgold.com

The above references an opinion and is for information purposes only. It is not intended to be investment advice.

Gold Holds Above $2600: SchiffGold Friday Gold Wrap 12.06.2024

Gold closed this week at $2,650 (up about $25 since last week) and silver at $30.60 (up about $0.41). Joel discusses higher inflation, global rate cut momentum and when gold and silver may rally. Price action discussed at 5:38.

OTHER TOPICS DISCUSSED:

-Trump's comments on inflation reflect a misunderstanding of economic principles.
-Producer inflation came in hotter than expected at 0.4%.
-The Swiss National Bank announced a surprising 50 basis point cut.
-China is considering quantitative easing due to economic struggles.
-The U.S. is not out of the monetary woods with high debt levels.
-Future rate cuts by the Fed are likely to drive gold prices higher.

QUOTE OF THE WEEK

If tariffs really didn't cost countries anything, every country would just be imposing tariffs, right? If it doesn't cost your own people anything, why don't you just run on tariffs? Why doesn't every country just impose tariffs if it doesn't cost anything for their own citizens? If you could just tax foreign countries, why not do that? Because they can't vote. It's preposterous. A tariff is a tax. It's a tax on the consumer for buying stuff. 100% of it is paid by consumers. There's nobody else to pay it! It's an indirect tax on consumers."

– Peter Schiff
The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the week’s economic precious metals news coupled with thoughtful analysis. You can subscribe to the podcast on Apple Podcasts and other podcasting platforms. The links are below.

SchiffGold on Instagram: www.instagram.com/schiffgoldnews
SchiffGold on Twitter: twitter.com/SchiffGold
SchiffGold on Facebook: www.facebook.com/schiffgold
SchiffGold's website: www.schiffgold.com

The above references an opinion and is for information purposes only. It is not intended to be investment advice.

More Trump, More Inflation: SchiffGold Friday Gold Wrap 12.13.2024

Gold closed this week at $2,625 (down about $25 since last week) and silver at $29.55 (down about $1.05). The Fed cut rates in time for Christmas but stock markets dropped on the news, spoiled by promises of bigger cuts in 2025. Price action discussed at 6:26.

OTHER TOPICS DISCUSSED:

-Sub-50 PMI and VIX spike warn of coming economic recession.
-Central banks likely to continue cutting in response to economic weakness.
-Market volatility is expected as central banks adjust their strategies.
-Gold and silver are being considered as legal tender in Florida.
-Chinese economic indicators show a lack of trust in government policies.

QUOTE OF THE WEEK

"The world is chaotic… the future is never clear.. I've made my whole career buying assets that other people consider uninvestable and when you do that you have a chance of getting a bargain."

– Howard Marks

The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the week’s economic precious metals news coupled with thoughtful analysis. You can subscribe to the podcast on Apple Podcasts and other podcasting platforms. The links are below.

SchiffGold on Instagram: www.instagram.com/schiffgoldnews
SchiffGold on Twitter: twitter.com/SchiffGold
SchiffGold on Facebook: www.facebook.com/schiffgold
SchiffGold's website: www.schiffgold.com

The above references an opinion and is for information purposes only. It is not intended to be investment advice.

Markets Reject Fed Christmas Gift: SchiffGold Friday Gold Wrap 12.20.2024

The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the week's precious metals news with some thoughtful commentary. For more, visit schiffgold.com/news/

The DOGE Days: SchiffGold Friday Gold Wrap 11.29.2024

SchiffGold

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