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POSTED ON August 25, 2023  - POSTED IN Market Brief

Gold and silver rallied from the lows of last week in quiet Comex trade for gold, but more active trade in silver. In Europe this morning, gold was at $1916, up $27 from last Friday’s close, and silver was up $1.30 at $24.14.

POSTED ON July 28, 2023  - POSTED IN Friday Gold Wrap

The Federal Reserve raised interest rates yet again during its July meeting. So, what’s next? In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks about the Fed meeting and the weird messaging, and then speculates about the central bank’s next move given the current economic backdrop. He also talks about a lucky Oklahoma woman and her bag of “junk” silver.

POSTED ON June 23, 2023  - POSTED IN Friday Gold Wrap

Fed Chair Jerome Powell went to Capitol Hill this week and talked. His open-mouth operations dominated the financial news and drove gold lower. In this episode of the Friday Gold Wrap, host Mike Maharrey digs into Powell’s comments, reads between the lines, and points out a couple of things Powell got completely wrong. He also talks about some actual economic news that most people just ignored.

POSTED ON June 21, 2023  - POSTED IN Original Analysis

Federal Reserve Chairman Jerome Powell testified before the House Financial Services Committee on Wednesday (June 21). The Fed chief engaged in some more open-mouth operations, trying to guide monetary policy with words instead of actions.

To understand a few things he said, you have to read between the lines.

Oh, and he also got at least a couple of things wrong along the way.

POSTED ON June 16, 2023  - POSTED IN Friday Gold Wrap

There is the mainstream and market perception of what going on in the economy and financial system. And then there’s the underlying economic reality. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks about the growing divergence between the two in the context of the June Federal Reserve meeting and the latest CPI data.

POSTED ON June 15, 2023  - POSTED IN Original Analysis

As was widely expected, the Federal Reserve Open Market Committee (FOMC) put rate hikes on pause at the June meeting, although it indicated we should expect additional hikes before the end of the year.

The question is how long will the pause last and will the next Fed move actually be a rate cut?

POSTED ON May 9, 2023  - POSTED IN Interviews

During his post-FOMC meeting press conference, Federal Reserve Chairman Jerome Powell insisted that the US banking system is resilient and sound. He said this despite the failure of First Republic Bank just days before the Fed meeting. Peter Schiff appeared on the Claman Countdown on Fox News and argued that Powell and others are wrong. He said the US economy is in a financial crisis worse than in 2008.

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