Gold has crashed through another key resistance level and is on track for its fourth consecutive weekly gain. What is driving gold into the spotlight? Host Mike Maharrey talks about it in this week’s episode of the Friday Gold Wrap podcast. He also raises an important question – what is all this going to look like when the recession really takes hold?
Another billionaire investor likes gold.
During an interview on Bloomberg TV, Paul Tudor Jones didn’t mince any words when asked about his view on the markets.
I think one of the best trades is going to be gold.”
The following is a market update as it related to precious metals prepared by SchiffGold intern commodities analyst Jason Mezhibovsky and SchiffGold News managing editor Mike Maharrey.
Equities Overdone
Most mainstream analysts believe we remain in the midst of the longest bull market in history. If you consider the post-crisis S&P 500 low of March 9, 2009, as the beginning of this bull run, then it’s well over a decade long.
Peter Schiff believes the bull market actually ended last fall. He predicted that the December rate hike would be the last. Turns out he was correct in that prediction.
There are two major factors driving markets right now – fears that tariffs are going to push the global economy into recession and hope that the Federal Reserve and other central banks will rescue it. What are the markets getting right? And what are they getting wrong? Friday Gold Wrap host Mike Maharrey talks about it.
Billionaire investor Thomas Kaplan said he sees the possibility of $5,000 gold on the horizon during an interview on the David Rubenstein Show.
Kaplan serves as the chairman and chief investment officer of The Electrum Group, New York-based investment, advisory and asset management firm focusing on the natural resources sector. He’s also known for his philanthropic work and as the largest private collector of Rembrandt’s artwork.
During the 2019 Las Vegas MoneyShow, Peter Schiff participated in an investing panel with Alexis Christoforous, Keith Fitz Gerald, Mark Skousen. The four discussed “where to invest.”
When you boil it all down, it was Peter taking on the conventional wisdom.
There were some pretty lively exchanges with Peter driving home the point that the Federal Reserve has hopelessly distorted the economy and the next crash is on the horizon.
There is plenty of debate about tariffs right now. A lot of people oppose them because they support free trade. A lot of people support them because they believe they protect US industry. Others think tariffs are a great tool to force other countries – specifically China – to engage in fair trade. In today’s Friday Gold Wrap podcast, host Mike Maharrey argues that no matter what you think about tariff policy, you should pause and count the cost because tariffs are taking money out of your wallet. Mike also talks about the possibility of China using its “nuclear option” in the trade war and gives an overview of the news that drove the precious metals markets this week.
The markets have been up and down this week, riding the trade war roller coaster. And analysts can’t seem to decide if the data of the day is telling us that the economy is sound or slowing. But we do know one thing for sure – there is a lot of debt out there, and there are signs that it might be catching up with us. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks student loan and auto loan debt, and what it be telling us about the economy. He also covers some of the latest trade war news and the last batch of economic data.
The following is a market update as it related to precious metals prepared by SchiffGold intern commodities analyst Jason Mezhibovsky.
Trade War
Although some pressures on US equities from the trade war have been eased, the S&P 500 is down about 3.8% since the end of April. Stocks rebounded Wednesday with the news that the US and China seem to to be making some progress with trade deal talks and that the US may delay some auto tariffs on the EU. The Dow was up 115 points and the S&P 500 picked up 16.55 points Wednesday. But stock markets still have not recouped all of their losses from the pressure faced these past two weeks.
Trump has leveled a lot of criticism at the Federal Reserve over that last several months. This has led some people to proclaim that the president is an enemy of the Fed. But as Mike Maharrey explains in this week’s Friday Gold Wrap podcast, Trump is no Ron Paul. The president’s beef with the Fed is more about policy and less about the central bank itself. And we should never forget — policy has consequences. In this episode, Mike gives a simple overview of how the Fed creates boom-bust cycles and why Trump needs more boom. He also covers the latest on the trade war and what’s going on in the gold market.
