Just Below All-Time Highs: SchiffGold Friday Gold Wrap July 19 2024
Gold closed the week at $2,405 (down $5) and silver at $29.30 (down 5%). The US Federal Reserve is growing increasingly worried about the economy as recent data flash even more warning signs. Investors are rushing to gold and silver, pushing prices to all-time highs. The recent dip creates a buying opportunity, especially for silver.
OTHER TOPICS DISCUSSED
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- Friday’s global tech crash
- Why small changes to interest rates cause big changes to asset prices
- The Trump assassination attempt
- Leading economic indicators (LEI) slide 0.2% in June, signaling slowing economy
- -6.6 Score in NY Manufacturing survey signals 8-month manufacturing contraction
- Jobless claims rise by 243,000 (14,000 more than expected)
- Builder confidence wanes: Home prices fall to seven-month low
- CME FedWatch tool shows September rate cut odds at 98.1%
Quote of the Week:
Economic freedom is the foundation of all other freedoms.”
-Frederic Bastiat
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 above references an opinion and is for information purposes only. It is not intended to be investment advice.
