If you buy gold or silver, you’re going to pay a premium. So, what exactly is a premium and how is it determined? In this episode of the Friday Gold Wrap, host Mike Maharrey answers common questions about premiums. He also discusses the debt ceiling deal and reveals where Americans rank gold as a long-term investment.
Americans consider gold the second-best long-term investment option, according to a recent Gallup poll. Gold beat out stocks, bonds and savings accounts.
The perception that gold is the best investment over the long term rose from 15% in 2022 to 26% in the 2023 poll, overtaking stocks at the number two spot.
The debt ceiling “crisis” is coming to a head. We’re pretty confident Republicans and Democrats will strike a deal and raise the debt ceiling. That’s supposed to solve the problem. But Friday Gold Wrap podcast host Mike Maharrey says the solution is the problem. In this episode, he also offers some bullish perspective on silver.
Citigroup projects silver could rise to $30 an ounce in the next six months to a year.
With silver currently in the $23.00 range, this represents a possible 30% return.
There are a few things that Friday Gold Wrap host Mike Maharrey writes about that don’t seem to garner much interest. In this show, Mike is going to talk about two of those things, why they matter, and why you should care. He also talks about the recent drop in the price of gold and what the markets are getting wrong.
The CPI data for April came out this week. The mainstream spin was that it was more good news for the Fed’s inflation fight. But the actual data tells a different story. In this episode of the Friday Gold Wrap, host Mike Maharrey talks about the CPI report and the disconnect between the mainstream narrative and reality. He also highlights some interesting Q1 gold demand numbers.
For the second straight month, gold flowed into ETFs in April.
Globally, gold-backed ETFs reported net inflows of 15 tons last month, reflecting an increase of about $824 million.
Physical gold investment was up by 5% year-on-year in the first quarter.
Investors bought 302 tons of gold bars and gold coins in Q1 with a value of $18.4 billion. This was 14% above the 5-year average, according to the World Gold Council.
The Federal Reserve raised rates yet again during its May FOMC meeting. Now everybody is trying to decipher the messaging coming out of the Fed to figure out what’s next. But what if the words Powell and Company are saying don’t really matter? In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks about the latest moves by the Fed and suggests we should focus on the realities over the rhetoric.