SchiffGold Friday Gold Wrap Podcast SchiffGold

Gold closed this week slightly down but remains up 12.5% year-to-date. Silver is up 25% year-to-date. This week's political news show governments around the world moving right and central banks adding on more gold.

OTHER NEWS
-Japanese Norinchukin bank expects loss of $9.5 billion
-India's Nifty 50 stock index outperforms S&P 500
-Weakening US-Saudi Petrodollar agreement
-Gold Surpasses Euro in Global Reserves
-Short Selling Banned in South Korea

Quote of the Week:
"It doesn't matter when the Fed cuts interest rates. The economy will weaken and inflation will strengthen regardless of the timing of the cuts. What's important is that interest rates are still too low and government spending is still excessive. High inflation is here to stay! "

-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

This week flashed early warning signs of a recession as gold and silver prices rose yet again. Despite an inflationary environment, non-essential goods are getting price cuts as the Fed reassures the public that rates won't go higher.

OTHER TOPICS DISCUSSED
-Gold is trading at $2,332 (up $38 since last week's close)
-Silver is trading at $29.55 (up $0.39 since last week's close)
-CPI data came it below expectations (0.0% vs. 0.1% expected)
-Walgreens announced price cuts on over 1,300 items
-Home prices up 28% from 329k in Q1 2020 to 420k in Q1 2024
-S&P 500 hit new high of 5450
-BlackRock and Citadel Securities back Texas Stock Exchange

Quote of the week from Paul Volker:

"The idea that when people see prices falling they will stop buying those cheaper goods or cheaper food does not make much sense. And aiming for 2 percent inflation every year means that after a decade prices are more than 25 percent higher and the price level doubles every generation. That is not price stability, yet they call it price stability. I just do not understand central banks wanting a little inflation."

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

In light of the recent pullback and low premiums, now is a unique opportunity to buy silver with prices 40% below their historic highs. JD and Joel also discuss the cause of the price pullback this week, the shocking Berkshire's stock price fumble, and the 8-figure-fortunes of a GameStop day-trader.

OTHER TOPICS DISCUSSED
-Gold is trading at $2,294 (down $33 since last week's close)
-Silver is trading at $29.16 (down $1.21 since last week's close)
-ADP employment below expected but BLS employment came out 82,000 jobs above expected, delaying expectations of a Fed rate cut
-AI falsely reports 99.73% drop in Berkshire Hathaway stock price

Quote of the week from Peter Lynch:

Far more money has been lost by investors preparing for corrections, or trying to anticipate corrections, than has been lost in corrections themselves.

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

As silver holds above $30 per oz, Joel and JD discuss disastrous Chicago manufacturing, Howard Marks, Trump's conviction, and the current shortage in platinum.

OTHER TOPICS DISCUSSED
-Gold is trading at $2,327 (down $7 since last week's close)
-Silver is trading at $30.37 (up $0.04 since last week's close)
-Chicago PMI at lowest level since COVID (35.4 vs 40.8 expected)
-Legendary investors fear US equities are in a bubble
-Trump's conviction moves (betting) markets

Quote of the week from Peter Lynch:
"The person that turns over the most rocks wins the game."

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

Silver broke $30 per ounce and gold $2,500 this past week. Joel and JD unpack the recent breakout and Peter Schiff's analysis, and what to look out for in the leg up.

OTHER TOPICS DISCUSSED

-Gold is trading at $2,334 (down $80 since this time last week)
-Silver is trading at $30.30 (down $1.20 since this time last week)
-Death of Iranian president
-New home sales dip below expectations
-The value of Junk Silver

Quote of the week from Ronald Reagan:

If words cannot repay the debt we owe these men, surely with our actions we must strive to keep faith with them and with the vision that led them to battle and to final sacrifice.

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

Gold and silver are up again this week and poised to sail away once the Fed lowers interest rates. Joel and JD discuss recent price action, meme stocks, Fed policy, and what to look out for before prices rise further.

OTHER TOPICS DISCUSSED

-Gold is trading at $2,376 (up $16 since this time last week)
-Silver is trading at $29.59 (up $1.45 since this time last week)
-BLS Inflation figures for April below expectation (0.3% vs. 0.4% expected)
-Meme stocks are on the rise; Game stop and AMC up nearly 4x and 3x, respectively.

Quote of the week from Charlie Munger:

A lot of people with high IQ’s are terrible investors, because they have terrible temperaments.

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