More Trump, More Inflation: SchiffGold Friday Gold Wrap 12.13.2024

SchiffGold Friday Gold Wrap Podcast

Gold closed this week at $2,650 (up about $25 since last week) and silver at $30.60 (up about $0.41). Joel discusses higher inflation, global rate cut momentum and when gold and silver may rally. Price action discussed at 5:38. OTHER TOPICS DISCUSSED: -Trump's comments on inflation reflect a misunderstanding of economic principles. -Producer inflation came in hotter than expected at 0.4%. -The Swiss National Bank announced a surprising 50 basis point cut. -China is considering quantitative easing due to economic struggles. -The U.S. is not out of the monetary woods with high debt levels. -Future rate cuts by the Fed are likely to drive gold prices higher. QUOTE OF THE WEEK If tariffs really didn't cost countries anything, every country would just be imposing tariffs, right? If it doesn't cost your own people anything, why don't you just run on tariffs? Why doesn't every country just impose tariffs if it doesn't cost anything for their own citizens? If you could just tax foreign countries, why not do that? Because they can't vote. It's preposterous. A tariff is a tax. It's a tax on the consumer for buying stuff. 100% of it is paid by consumers. There's nobody else to pay it! It's an indirect tax on consumers." – Peter Schiff 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. SchiffGold on Instagram: www.instagram.com/schiffgoldnews SchiffGold on Twitter: twitter.com/SchiffGold SchiffGold on Facebook: www.facebook.com/schiffgold SchiffGold's website: www.schiffgold.com The above references an opinion and is for information purposes only. It is not intended to be investment advice.