More Trump, More Inflation: SchiffGold Friday Gold Wrap 12.13.2024
Gold closed this week at $2,650 (up about $25 since last week) and silver at $30.60 (up about $0.41). Joel discusses higher inflation, global rate cut momentum and why Trumps policies add fuel to the inflation fire. Price action discussed at 5:38.
OTHER TOPICS DISCUSSED:
- Trump’s comments on inflation reflect a misunderstanding of economic principles.
- Producer inflation came in hotter than expected at 0.4%.
- The Swiss National Bank announced a surprising 50 basis point cut.
- China is considering quantitative easing due to economic struggles.
- The U.S. is not out of the monetary woods with high debt levels.
- Future rate cuts by the Fed are likely to drive gold prices higher.
QUOTE OF THE WEEK
If tariffs really didn’t cost countries anything, every country would just be imposing tariffs, right? If it doesn’t cost your own people anything, why don’t you just run on tariffs? Why doesn’t every country just impose tariffs if it doesn’t cost anything for their own citizens? If you could just tax foreign countries, why not do that? Because they can’t vote. It’s preposterous. A tariff is a tax. It’s a tax on the consumer for buying stuff. 100% of it is paid by consumers. There’s nobody else to pay it! It’s an indirect tax on consumers.”
– Peter Schiff
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.
Listen on Youtube
The Friday Gold Wrap on Apple Podcasts
The Friday Gold Wrap on Stitcher
The Friday Gold Wrap on Spotify
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.
