If you believe the conventional wisdom, gold should be languishing right now.
It isn’t. People are buying gold.
So, what gives? Could it be that the conventional wisdom is wrong?
The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the week’s precious metals news coupled with thoughtful analysis. You can subscribe to the podcast on iTunes.
In a recent interview on RT Boom Bust, Peter Schiff talked gold.
In a piece he wrote for the December issue of the World Gold Council Gold Investor, WGC chief market strategist John Reade outlined several key reasons he thinks gold will shine in 2018. He said rising global income will be the primary factor pushing demand for the yellow metal upward in the next year.
Peter put a little different spin on Reade’s analysis, saying it’s not just rising incomes in places like India and China that will help boost gold. Global inflation will play a key role.
The December Federal Open Market Committee meeting went pretty much according to scrip.
Analysts widely expected the Fed to raise rates by .25. It did. Analysts also expected the Fed to signal three more hikes in 2018. It did that too.
Gold went up, as we said it probably would, hitting a one-week high in the wake of the rate hike as investors “bought the fact.”
Every year, the Federal Reserve robs you of a little bit of your wealth.
And it does so by design.
Writing for the Sovereign Man, Jeff Thomas called it a “magic trick.” But it’s not magic in a mystical way. It’s magic in the show business sense of the word. It’s an illusion, facilitated by distraction that fools the audience. As a result, we all miss what’s actually happening.
The Federal Reserve is widely expected to nudge interest rates up again this week. Most analysts agree that the specter of a rate hike is one of the primary reasons gold has slumped over the last several weeks. But are rising interests rates really bad for gold?
The short answer is no. At least not historically
Since pushing above $1,300 in late August and then falling back below that level again in September, gold has been trading within a very narrow range and volatility in the market has remained low. But during an interview on CNBC Futures Now, metals expert Michael Dudas of Vertical Research said he sees a breakout on the horizon.
The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the week’s precious metals news coupled with thoughtful analysis. You can subscribe to the podcast on iTunes.
The Federal Reserve released the minutes from its most recent FOMC meeting on Wednesday and it appears the monster they created has finally spooked the central bankers.
The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the week’s precious metals news coupled with thoughtful analysis. You can subscribe to the podcast on iTunes.
