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Peter Schiff on Gold & Silver Sell-off on Friday
Peter Schiff REPORTS on Gold & Silver Sell-Off on Friday due to China stop buying Gold after 18 month buying streak. Government of China buying on Friday alarmed investors. Gold fell $40 per ounce on the initial news of the government not buying Gold. Then later in the day when economic data was released another $30 dollar an ounce dropped to end $70 per ounce for the day. With the economic news of surplus, China will be buying Gold. Non-farm payroll came out better than expected which are not accurate. Weak employment is the fact but government has a track recording of deceiving numbers. The economy is not stable.
https://www.youtube.com/live/dJiWMAJ0m_I?si=ENDLlN0LqtScI08g
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4 Replies
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As of June 12, 2024, the prices of gold and silver have shown notable movements. Gold is trading at approximately $2,325.70 per ounce, reflecting a slight increase of 0.41% from previous levels. Similarly, silver is priced at around $29.67 per ounce, marking a 1.47% rise. These increases come amid a backdrop of economic factors, including geopolitical uncertainties and recent data showing a cooler-than-expected U.S. Consumer Price Index (CPI).
The Federal Reserve’s recent decision to leave interest rates unchanged has also influenced the precious metals market, signaling potential rate cuts later this year. This has contributed to the stability and slight appreciation in gold and silver prices.
Overall, the precious metals market is responding to various economic indicators and global events, maintaining investor interest in gold and silver as safe-haven assets. For more detailed and real-time updates, platforms like GCA FORUMS offer comprehensive insights and price charts.
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I fully agree that silver and gold are the best investments
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China is stacking over 80% of the silver market. Electronics like cell phone cannot be built without silver. If you can’t buy an ounce of silver at the local pawn shop or at Cosco, you know that silver price is expected to skyrocket.
https://www.youtube.com/live/3h-mhPiy8XE?si=Q9x6ouDpSuffNmKU
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Silver price per ounce jumped to $31.00 per ounce today as investors are getting on the bandwagon stacking silver. Many speculators are speculating silver can go higher than gold due to the industrial uses for silver versus gold.
