Gold Above $2500: SchiffGold Friday Gold Wrap 8.16.2024
Gold closed the week near a new all-time high at $2,506 (up $76 since last week) and silver at $29.00 (up $1.55). We discuss gold prices, the strong PPI and inflation data, why the deficit situation is even worse than it seems, and whether the Fed will be forced to return to QE.
OTHER TOPICS DISCUSSED
-Dollar hits 5-month low
-July deficit reaches whopping 42.5% of federal spending
-Home Depot suffers 3.6% sales decline
-Luxury goods decline as doom spending rises
-Anniversary of closing of gold window
-Powell and Jackson Hole
-Key headlines to look out for in week ahead
Quote of the Week:
"Lenin is said to have declared that the best way to destroy the capitalist system was to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens."
-John Maynard Keynes
The above references an opinion and is for information purposes only. It is not intended to be investment advice.
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
-Dollar hits 5-month low
-July deficit reaches whopping 42.5% of federal spending
-Home Depot suffers 3.6% sales decline
-Luxury goods decline as doom spending rises
-Anniversary of closing of gold window
-Powell and Jackson Hole
-Key headlines to look out for in week ahead
Quote of the Week:
"Lenin is said to have declared that the best way to destroy the capitalist system was to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens."
-John Maynard Keynes
The above references an opinion and is for information purposes only. It is not intended to be investment advice.
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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