In this episode of Schiff Gold Friday Market Wrap, hosted by Peter Schiff, the focus is on the latest developments in the gold and silver markets as Halloween approaches. Schiff discusses the recent scare that shook gold and silver investors, particularly those in mining stocks, who experienced a sharp decline after a period of bullish sentiment. He explores the concept of mainstream investors entering the gold market and emphasizes the natural corrections in a bull market that eliminate weaker players. Schiff details gold’s price action, noting a recent drop from nearly $4,400 to around $4,000, which he identifies as a support zone. He also highlights silver's similar trajectory, with prices correcting below $50 after breaking through this level. Schiff introduces a new initiative on the Schiff Gold website, promoting the TGold platform that allows users to trade, store, and eventually transact in gold and silver. He elaborates on the development of debit and credit cards linked to gold accounts and the broader vision of creating a gold-based monetary system that offers a secure, valuable alternative to fiat currencies. Schiff underscores the importance of converting and saving in gold to protect purchasing power against inflation. Additionally, he touches on the Federal Reserve's recent rate cut and how it affects market dynamics. Closing with plans for further enhancements to the platform, Schiff invites listeners to join the movement towards a self-imposed gold standard.
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In this episode of Schiff Gold Friday Market Wrap, hosted by Peter Schiff, the focus is on the latest developments in the gold and silver markets as Halloween approaches. Schiff discusses the recent scare that shook gold and silver investors, particularly those in mining stocks, who experienced a sharp decline after a period of bullish sentiment. He explores the concept of mainstream investors entering the gold market and emphasizes the natural corrections in a bull market that eliminate weaker players. Schiff details gold’s price action, noting a recent drop from nearly $4,400 to around $4,000, which he identifies as a support zone. He also highlights silver's similar trajectory, with prices correcting below $50 after breaking through this level. Schiff introduces a new initiative on the Schiff Gold website, promoting the TGold platform that allows users to trade, store, and eventually transact in gold and silver. He elaborates on the development of debit and credit cards linked to gold accounts and the broader vision of creating a gold-based monetary system that offers a secure, valuable alternative to fiat currencies. Schiff underscores the importance of converting and saving in gold to protect purchasing power against inflation. Additionally, he touches on the Federal Reserve's recent rate cut and how it affects market dynamics. Closing with plans for further enhancements to the platform, Schiff invites listeners to join the movement towards a self-imposed gold standard.
The Fat Lady Hasn't Sung a Note: SchiffGold Friday Gold Wrap 11.17.23
SchiffGold Friday Gold Wrap Podcast
36 minutes 51 seconds
1 year ago
The Fat Lady Hasn't Sung a Note: SchiffGold Friday Gold Wrap 11.17.23
Everybody seems convinced that the Federal Reserve has won the inflation fight, there will be no more rate hikes, and rate cuts are right around the corner. But as Friday Gold Wrap host Mike Maharrey reminds us, it's not over until the fat lady sings. And she hasn't sung a note. In this episode, he breaks down the latest CPI data and explains why the victory dance might be premature.
You can visit the show notes page here: https://bit.ly/49Jm1Lu
Tune in to the Friday Gold Wrap each week for a recap of the week’s economic and political news as it relates to gold and silver, along with some insightful commentary. For more information visit https://schiffgold.com/news.
TOPICS DISCUSSED
- CPI comes in slightly cooler than expected
- The market's gleeful reaction to the CPI data
- Three reasons the war on inflation victory dance might be premature
- The US government kicks off fiscal 2024 with another big deficit
- Interest was the second-biggest expense for the federal government last month
SchiffGold Friday Gold Wrap Podcast
In this episode of Schiff Gold Friday Market Wrap, hosted by Peter Schiff, the focus is on the latest developments in the gold and silver markets as Halloween approaches. Schiff discusses the recent scare that shook gold and silver investors, particularly those in mining stocks, who experienced a sharp decline after a period of bullish sentiment. He explores the concept of mainstream investors entering the gold market and emphasizes the natural corrections in a bull market that eliminate weaker players. Schiff details gold’s price action, noting a recent drop from nearly $4,400 to around $4,000, which he identifies as a support zone. He also highlights silver's similar trajectory, with prices correcting below $50 after breaking through this level. Schiff introduces a new initiative on the Schiff Gold website, promoting the TGold platform that allows users to trade, store, and eventually transact in gold and silver. He elaborates on the development of debit and credit cards linked to gold accounts and the broader vision of creating a gold-based monetary system that offers a secure, valuable alternative to fiat currencies. Schiff underscores the importance of converting and saving in gold to protect purchasing power against inflation. Additionally, he touches on the Federal Reserve's recent rate cut and how it affects market dynamics. Closing with plans for further enhancements to the platform, Schiff invites listeners to join the movement towards a self-imposed gold standard.
