Silver prices are expected to rise in 2020 with macroeconomic and geopolitical conditions remaining broadly supportive for precious metals, this according to a report highlighted in the latest issue of the Silver Institute’s Silver News.
Stop and pause for a moment and think about what just happened. The Federal Reserve says the US economy is strong, but it just initiated emergency monetary policy last seen during the worst financial crisis since the Great Depression.
Something doesn’t add up.
The Fed cut rates 50 basis points on Tuesday. It was the first interest rate move between regularly schedule FMOC meetings since the 2008 financial crisis. The Fed funds rate now stands between 1.0 and 1.25%.
After the worst week since 2008, the stock market rallied on Monday on the hope of central bank stimulus. In his March 2 podcast, Peter Schiff said he doesn’t think the Fed’s easy money can keep the air in the stock market bubble. But the stimulus overdose will likely propel gold to new highs.
On Sunday, March, 1, Peter Schiff appeared on Fox News to discuss the market and economic turbulence surrounding coronavirus. Peter said the coronavirus isn’t the real problem. It’s the Fed. Everything the central bank has done since 2008 has only made things worse and set us up for an even bigger crisis.
Peter opened up the interview saying that even with the big declines through the previous week, the US stock market is still significantly overvalued.
Last year, an Australian family found a gold nugget just laying on the ground. Needless to say, this doesn’t happen every day. In fact, finding a gold nugget is quite unusual – even a small one. But every once in a while, somebody discovers a massive nugget. The biggest nugget ever discovered was over 600 pounds!
The US stock market continued its freefall last Friday. The Dow lost another 357 points to finish off the worst week since 2008. One would expect a safe-haven like gold to thrive in the midst of the massive stock selloff, but it had a bad day on Friday as well crashing through the $1,600 mark and plummeting as low as $1,568.
Gold rebounded Monday and was trading back above $1,600, but how do we make sense of its precipitous plunge? Has gold failed as a safe-haven?
The short answer is no.
Well, it’s campaign season. I hate campaign season.
And this current crop of Democratic hopefuls isn’t doing anything to change my feelings. These people are about as bland as a bag of sawdust. I mean, say what you will about Donald Trump; if nothing else he comes up with some pretty amusing quips.
So, in an effort to spice up campaign season, I thought it would be fun to look back on some of the all-time worst campaign slogans.
Continuing our series of contests with Roy Sebag, we gave away another one-ounce gold coin. For this contest, Roy asked folks to share their favorite charities.
It’s been a wild ride on Wall Street this week — all downhill. Stocks entered correction territory Thursday and are on track for the worst week since the 2008 financial crisis. As Peter has put it, this stock market is a bubble looking for a pin. Is the coronavirus the pin? In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks about this chaotic week in the stock market, the bond market and the gold market.
People treasure gold and they have for millennia. As a result, the yellow metal has found its way into some of the world’s great literature. Yesterday, we shared with you some of the greatest gold quotes of all time, gleaned from a contest we ran with Roy Sebag. The winner walked away with a one-ounce gold coin.
With gold’s striking beauty, it comes as no surprise that the yellow metal has also been the subject of visual art. Roy decided it would be fun to see some of the greatest visual depictions of gold, so he ran another contest to find the greatest golden art of all time.