Jerome Powell went to Capitol Hill this week. During his testimony before a congressional committee, the Fed chair insisted, “There is nothing about this economy that is out of kilter or imbalanced.” In this episode of the Friday Gold Wrap Podcast, host Mike Maharrey takes issue with Powell’s assessment and points out some things that are, in fact, way out of kilter.” He also touches on coronavirus and the markets, consumer debt, and Donald Trump.
Gold took a hit on Tuesday but held a key support level and rebounded as the week went on, even as stocks set new records. Why does gold continue to keep showing strength even with all the headwinds? Is it just coronavirus? Or is something else going on? Host Mike Maharrey talks about it in this week’s Friday Gold Wrap podcast.
The Federal Reserve held its first FOMC meeting of 2020. It was mostly met with yawns as the Fed held rates steady, and despite a somewhat dovish tone, indicated that it probably wouldn’t make any moves on interest rates this year. We’ve grown so used to low interest rates that it barely registers that the Fed is actually engaged in extreme monetary policy. Extreme has become the new normal. In this week’s Friday Gold Wrap podcast, host Mike Maharrey talks about it. He also touches on the Q4 GDP report and some interesting gold supply and demand trends.
While impeachment proceedings kicked off at home President Trump was in Davos, Switzerland, talking up the US economy. He called it the best economy in American history. Is it though? In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks about the economy, what’s really driving it, and why this might be a good time to think about gold.
Donald Trump and Chinese Vice Premier Liu inked their signatures on the Phase 1 trade deal this week. But was it really a big deal? Or was it no deal? Mike Maharrey talks about it on this week’s Friday Gold Wrap podcast. He also talks about why the gold market seems to be holding steady despite some strong headwinds and the outlook for the yellow metal in 2020.
The sound of war drums dominated this week. After Iran launched missiles at US bases in Iraq in retaliation for an airstrike that killed an Iranian general, gold spiked to over $1,600 an ounce — an eight-year high. But tensions seem to have eased and the price of gold with it, as the war drums have quieted. So, what did we learn from this and what’s next for the gold market? Host Mike Maharrey talks about it in this episode of the Friday Gold Wrap podcast.
Gold had a pretty good run in 2019. In fact, it was the best year for the yellow metal in nearly a decade. So what’s in the cards as we rush headlong into the 2020’s? In this episode of the Friday Gold Wrap podcast, host Mike Maharrey looks back at 2019 and highlights some of the things that drove precious metals markets. Then he pivots and looks ahead at 2020 and beyond. Where are we going and what will get us there?
Gold is finishing up 2019 with a bang, pushing back above the psychologically significant $1,500 per ounce this week. Although there are a few trading days left, gold appears set to end the year with a better than 17% gain. In the last Friday Gold Wrap podcast of 2019, host Mike Maharrey takes us through a quick overview of what he considers to be the five biggest stories of the year driving precious metals.
It was an eventful week as far as news goes, but a rather quiet one in the gold and silver markets. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey covers impeachment and the phase 1 trade deal. He also talks about politicians and their propensity to break things and then woo us with promises to fix them. It’s a little bit like an arsonist coming to the rescue and putting out the fire. Except in the case of government, the fire never really gets put out.
We have a trade deal! Maybe. Meanwhile, the Fed wrapped up its last FOMC meeting of the year this week and did nothing. But Powell and Company did give us some indication about what we should expect next year. The week’s news played tug-o-war with gold. In this episode of the Friday Gold Wrap, host Mike Maharrey breaks it all down and says there’s a lot to be skeptical about, both with the trade deal and the rhetoric coming out of the Fed.