Recession Indicators Flashing: SchiffGold Friday Gold Wrap June 14 2024

  by SchiffGold  0   2

This week flashed early warning signs of a recession as gold and silver prices rose yet again. Despite an inflationary environment, non-essential goods are getting price cuts as the Fed reassures the public that rates won’t go higher.


Gold is trading at $2,332 (up $38 since last week’s close)
Silver is trading at $29.55 (up $0.39 since last week’s close)
CPI data came it below expectations (0.0% vs. 0.1% expected)
Walgreens announced price cuts on over 1,300 items
Home prices up 28% from 329k in Q1 2020 to 420k in Q1 2024
S&P 500 hit new high of 5450
BlackRock and Citadel Securities back Texas Stock Exchange

Quote of the week from Paul Volker:

The idea that when people see prices falling they will stop buying those cheaper goods or cheaper food does not make much sense. And aiming for 2 percent inflation every year means that after a decade prices are more than 25 percent higher and the price level doubles every generation. That is not price stability, yet they call it price stability. I just do not understand central banks wanting a little inflation.”


The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the week’s economic precious metals news coupled with thoughtful analysis. You can subscribe to the podcast on Apple Podcasts and other podcasting platforms. The links are below.

Listen on Youtube

SchiffGold on Soundcloud

SchiffGold on Facebook

SchiffGold on Instagram: SchiffGoldNews

SchiffGold on MeWe

The Friday Gold Wrap on Apple Podcasts

The Friday Gold Wrap on Stitcher

The Friday Gold Wrap on Spotify

The Friday Gold Wrap on Google Podcasts

The above references an opinion and is for information purposes only. It is not intended to be investment advice.

Download SchiffGold's Why Buy Gold Free ReportDownload SchiffGold's Why Buy Gold Free Report

Get Peter Schiff’s key gold headlines in your inbox every week – click here – for a free subscription to his exclusive weekly email updates.

Call 1-888-GOLD-160 and speak with a Precious Metals Specialist today!

Source link


Leave a Reply

Your email address will not be published. Required fields are marked *

We use cookies to give you the best experience. Cookie Policy