Gold surged passed another key level this week, breaking above $1,800 an ounce for the first time since 2011. And the yellow metal is pulling silver up along with it. What’s driving precious metals higher? And can we expect this bull run to continue? In this episode of the Friday Gold Wrap podcast, host Mike Maharrey takes a close look at both the gold and silver markets – what’s driving them and where they might be heading next, and why this is different than 2011. He also touches on the escalating war on cash.
Gold just finished Q2 at its highest level in over 8 years, wrapping up its best quarter since 2016. The Fed monetary policy in response to the coronavirus pandemic has put a strong tailwind behind gold. But as host Mike Maharrey details in this week’s Friday Gold Wrap podcast, gold has been on a bull run for quite some time – long before COVID-19 reared its ugly head. Why? And what might this tell us about what’s ahead?
Gold staged a solid rally and finally broke above a key resistance level this week. The yellow metal hit an 8-year high on Wednesday and continues to hold above $1,750 an ounce. Meanwhile, we’re suddenly starting to see some mainstream bullishness for gold. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks about the economic dynamics in play and highlights some of the mainstream attention suddenly being showered on the yellow metal.
Jerome Powell ventured to Capitol Hill – virtually – to talk to Congress this week. Powell did what he does best – blew a lot of smoke. Meanwhile, the central bank upped its stimulus ante yet again. In this episode of the Friday Gold Wrap podcast, host Mike Maharry talks about the impact the Fed is having on the economy, along with the news of the week in the gold market.
The Federal Reserve met this week and promised to keep pumping out monetary stimulus indefinitely. Meanwhile, the US government added another trillion dollars to the national debt in just 35 days even as the president and congressional leaders talk about more fiscal stimulus. In this week’s Friday Gold Wrap podcast, host Mike Maharrey talks about the ramifications of all this endless stimulus and reminds us that what can’t go on forever, doesn’t. He also covers the week’s ups and downs in the gold market and reveals that the May unemployment report appears to be fake news.
The economy has gone through the quickest and arguably the deepest collapse in history, but the stock market has been rallying. How can this be? In this episode of the Friday Gold Wrap podcast, host Mike Maharrey says look no further than the Federal Reserve. Despite the economic chaos, it has managed to blow up stock market bubble X.0 He also talks about a move China recently made that ups the ante in the “war on cash.”
The Dow Jones is back of 25,000 and despite increasing tensions with China, people seem pretty optimistic about the economic future as states begin to open back up. SchiffGold Friday Gold Wrap host Mike Maharrey says people should know better. He makes his case by digging into some of the long-term ramifications of the economic shutdown and the government/central bank response to it. He also recaps the last month in the gold and silver markets.
Jerome Powell went on 60 Minutes last week and said there was “no limit” to what the Fed could do to support the economy. Of course, that’s not really true. All the central bank can really do is print more dollars. And the economy isn’t just about dollars. It’s about stuff. In this episode of the Friday Gold Wrap podcast, Mike Maharrey talks about the real problem facing the economy – Powell’s “cure.” He also puts silver in the spotlight.
Federal Reserve Chairman Jerome Powell dumped cold water on the notion that we’re going to have a quick recovery during a speech this week and begged Congress for more fiscal stimulus. As Friday Gold Wrap host Mike Maharrey put it, Powell and the federal government are the arsonists trying to fight the fire they started. In this episode, Mike talks about Powell’s speech and points out just how clueless he really is. He also covers some of the week’s economic news and its impact on the gold market.
People keep talking about the “new normal” we’ll all have to adjust to as we recover from the coronavirus pandemic. So, what does that mean for the economy? In this episode of the Friday Gold Wrap podcast, host Mike Maharrey looks ahead at the new normal, the prospects of an economic recovery and speculates that we might have already caught a glimpse of the future last year. He also covers the gold market and looks at some of the economic data this week.