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Gold’s Up For Mother’s Day: SchiffGold Friday Gold Wrap May 10, 2024

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With Mother’s Day around the corner, gold is up almost $60 on the week. Bad jobs numbers and terrible consumer sentiment have soured economic expectations. The Fed is more likely to lower interest rates sooner, but it’s too late to save the economy from the inflation to come.

OTHER TOPICS DISCUSSED

    • Gold is trading at $2,360 (up $58 since this time last week)
    • Silver is trading at $28.14 (up $1.60 since this time last week)
    • Jobless claims rise 22,000 to 231,000, well above expectations
    • UMich consumer sentiment dips to 67.4, a one-month decline of 12.7%

Quote of the week from Mises:

The classical or orthodox gold standard alone is a truly effective check on the power of the government to inflate the currency. Without such a check all other constitutional safeguards can be rendered vain.

TOP ARTICLES THIS WEEK

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.

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The Friday Gold Wrap on Apple Podcasts

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The Friday Gold Wrap on Google Podcasts

The above references an opinion and is for information purposes only. It is not intended to be investment advice.

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