Terrible Jobs News Strikes Fear: SchiffGold Friday Gold Wrap August 2 2024
Gold closed the week at $2,442 (up $56 since last week) and silver at $28.54 (up $0.64). Terrible jobs numbers this week struck fear in the markets and in the Fed. As recession warnings flash, precious metals are up. Could they go even higher soon?
OTHER TOPICS DISCUSSED
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- VIX Fear gague spikes above 30
- Intel down 30% and ready to cut 15,000+ jobs
- Olympics pistol shooting
- Fed keeps interest rates unchanged at 5.25% – 5.50%
- Nonfarm payroll at 114k jobs vs. 176k expected
- Trump and SEC chairman Gary Gensler
Quote of the Week:
In the short run, the market is a voting machine, but in the long run, it is a weighing machine.”
-Benjamin Graham
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.
