Improving investor sentiment will drive silver prices higher.
This was the conclusion drawn from the Metals Focus/Silver Institute Interim Silver Market Review. Metals Focus director Philip Newman presented the data during the Annual Silver Industry Dinner hosted by the Silver Institute. His presentation featured historical supply and demand statistics and provisional estimates for 2019.
In his most recent podcast, Peter Schiff said something that seems rather perplexing on the surface. He said that the current stock market rally isn’t being driven by a strong economy. It’s actually being driven by a weak economy.
How can this be?
Well, the underlying economic weakness is what keeps the Federal Reserve in play and it’s the Fed’s loose monetary policy that’s goosing this market.
When the Federal Reserve started cutting interest rates last summer, the price of silver surged. The white metal rose 35% and peaked at close to $20 an ounce.
Silver has given back some of those gains in recent weeks, primarily due to optimism about a possible trade deal with China. But fundamentally, nothing in the economy has changed. The Fed is still engaging in extraordinarily loose monetary policy. We continue to see shaky economic data. And despite all the talk, the trade war drags on.
With the spot price down, for the time being, this is silver on sale. And right now, SchiffGold has a great opportunity for you to take advantage of this bargain.
On Nov. 18, Peter Schiff appeared on RT Boom Bust to talk stock markets, trade war and Federal Reserve policy. He said that right now the Fed is doing a good job stimulating the bubbles, but ultimately, it’s going to end very poorly.
On the trade war front, there seems to be a lot of conflicting information and continual yo-yoing between pessimism and optimism. The Chinese seem less confident while White House economic advisor Larry Kudlow says a deal is close.
Peter said he thinks China is posturing for negotiations.
Back in 2017, the IMF published a creepy paper offering governments suggestions on how to move toward a cashless society even in the face of strong public opposition. It hasn’t been in the news a whole lot lately, but the war on cash undoubtedly continues. In fact, the Chinese Communist Party (CCP) may be planning to embrace the idea as another weapon to wield against its people.
In August, the People’s Bank of China said it was close to launching a digital yuan. This could take the first step toward pushing China toward a cashless society.
Seeking financial and economic safety and stability, Serbia has joined the global central bank gold-buying spree.
National Bank of Serbia Governor Jorgovanka Tabakovic recently announced that the bank purchased nine tons of gold in October, raising the country’s reserves to just over 30 tons.
The Dow pushed above 28,000 on Friday. The Nasdaq also closed on a record high above 8,500, and the S&P 500 made a new record high of 3,120. This despite some more gloomy economic data that came out during the day. Industrial production dropped more than expected, falling by 0.8 in October. Inventory numbers were also revised down. All of this led the Atlanta Fed to revise its Q4 GDP estimate down to 0.3.
In his most recent podcast, Peter Schiff said that it’s QE and Federal Reserve policy that is driving the stock market, not a great economy. In fact, the Fed is creating all kinds of bubbles. And like all bubbles, they will eventually pop.
Jerome Powell lectured Congress about the national debt last week, calling it unsustainable. The Federal Reserve chairman is concerned. He admitted that with interest rates already close to zero, the central bank has very little room to cut rates in the event of an economic downturn. Peter Schiff appeared on the Claman Countdown, along with Milken Institute economist Bill Lee to talk about Powell’s comments.
Peter said that while Powell is lecturing Congress, it’s really the Fed’s fault.
There was more optimism about a trade deal this week. There was also more pessimism about a trade deal this week. Markets reacted accordingly. But there was some other interesting news out there. Jerome Powell lectured Congress about the national debt and last month’s inflation data came in hotter than expected. Host Mike Maharrey covers these stories and more, and basically ignores the trade war gossip, on this episode of the SchiffGold Friday Gold Wrap podcast.
Here’s a strange headline for you: “Gold prices near daily highs despite better-than-expected inflation in October.”
This headline is bizarre on a couple of levels. First, since when are rising consumer prices and good news? And second, why wouldn’t inflation be good for gold?
You really have to buy into the mainstream narratives to write that headline.