Recession Indicators Flashing: SchiffGold Friday Gold Wrap June 14 2024
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
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
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