The government is always promising to fix things. It has policies to fix the economy, fix foreign countries, and even fix the pandemic. But as Friday Gold Wrap podcast host Mike Maharrey explains in this episode, instead of fixing things, the government wrecks pretty much everything it touches.
Peter Schiff spent an hour and a half answering questions during a live chat on Instagram.
Federal Reserve Chairman Jerome Powell spent most of his Jackson Hole speech continuing to try to convince everybody that inflation is transitory. As Friday Gold Wrap podcast host Mike Maharrey points out in this episode, whether it is or isn’t transitory, inflation is a real thing that has a real impact on real people. In this show, he also breaks the news on the August jobs numbers and discusses taper talk.
Central banks continued to add gold to their reserves in July, according to the latest data from the World Gold Council.
Led by Brazil’s 8.5-ton purchase, central banks globally bought a net 30.1 tons of gold.
Jerome Powell will speak today at the Jackson Hole economic summit. Everybody is on pins and needles in anticipation of the Fed chairman’s speech. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey discusses the Fed’s messaging and then moves past the talk to discuss the “here and now” reality. He also spends some time talking more fundamentally about gold as part of an investment strategy.
The current economic environment is generally supportive of commodities. Higher inflation rates, improving economic conditions and commodity supply shortages all favor this sector. As a result, investors are increasing allocations to commodities. And according to a report published by the World Gold Council, gold is positioned as the most effective commodity investment in a portfolio.
M2 Money Supply is measured by the Federal Reserve to calculate the amount of money in the financial system. Historically, the term inflation was defined as an expansion of the money supply that generally led to higher prices. Therefore increases in M2 is the measure of inflation. This analysis reviews the changes in money supply as a potential indication of future price increases.
This analysis focuses on gold and silver physical delivery on the Comex set for September 21, 2021. See the article What is the Comex for more detail.
The price of gold and silver can be driven by many variables both technical and fundamental. Fundamental drivers include Fed meetings/speeches, its balance sheet, inflation data, jobs numbers, market risk appetite, etc.
This analysis examines some of the more technical factors driving prices (e.g. Comex OI, Miners price action, technical price action). The CFCT Cots report can show investor positioning but is covered in another analysis.
This week marked the 50th anniversary of President Richard Nixon slamming shut the “gold window” and cutting the last tether between the dollar and gold. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey explains exactly what Nixon did and the impact of 50 years of monopoly money. He also covers some of the week’s economic data and the release of the Fed’s July minutes.
