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