PRECIOUS METALS REPORT: August 2, 2024 (New Gold ATH!)

Hey there!

Welcome to something brand new we’re doing, I think you’re really going to like this….

I talk a lot about Precious Metals (Gold and Silver) and for good reason, but I’m often talking about them on a larger, macro, geo-political level.

Going forward, I’m going to bring you the “Precious Metals Report” courtesy of my friend Ira Bershatsky, which breaks down a bit more of a trader’s look on the precious metals market.

I’ve working with Ira for a couple years now, and the man knows his stuff!

As usual, I have you tell you that I am not a financial advisor, and neither Ira nor I can give you personalized financial advice.

This report is simply what Ira sees for the economy and will give you some ideas you might be able to act on if it fits into your overall strategy.  That’s up to you.

I just like to provide information, and I trust Ira’s outlook on the market.

So here is your Precious Metals Report for August 2, 2024 — from the desk of Ira Bershatsky:

And…here comes the recession!

As readers of our weekly updates know, we have been saying for several months now there will be a recession in late 2024 or early 2025.

On Thursday of this past week the Institute of Supply Management (ISM) Manufacturing Index came in lower than expected at 46.8 versus the previous month’s reading of 48.5 with 48.8 expected.

Readings below 50 indicate a contracting economy. And the prices paid index increased. For those of you who remember the Jimmy Carter stagflation and sinking stock market of the 1970s and to paraphrase Ronald Reagan, “Here we go again”.

This morning’s employment picture showed further economic weakening with slowing job growth and an increase in the unemployment rate to 4.3% versus last month.

What does this mean for gold and silver?

Gold increased significantly this morning to another new high and silver is beginning to rebound and the gold/silver ratio is at 86 which is above the guideline of 80 where silver usually pops in price.

We have been suggesting to our customers to buy the dip in gold and to buy as the momentum increases. Gold is above both its 50-day and 200-day moving averages which is what the smart money institutional investors look at.

Some feedback we have received over the last few months as gold has increased is “the price is too high”

What is too high? It is $400 an ounce over its previous long-term high of $2,060 an ounce!

Silver is a bit more speculative and is between its 50-day and 200-day moving averages and is popular with many of our customers even at these prices.

I know many of you are already familiar with Ira Bershatsky, but for those who don’t know him, you can find him at WLT Precious Metals.

I have personally sent family members to Ira for 5-figure purchases of Gold and Silver and he treated them like royalty.  They were very pleased.

That’s how much I trust Ira.

No one has a crystal ball for the markets, but I trust Ira’s ethics and morals and customer service implicitly.  I always hear glowing reviews!

I didn’t tell him I was sending them over either (and these particular family members have a different last name) so I did it as a bit of a “secret shopper” test and Ira passed with flying colors.

Of course I knew he would.

That’s why I work with him and that’s why I have confidence telling you about him.

Ira can handle bulk purchases of bullion, coins, whatever you want.

All custom ordered and shipped right to your door.

A lot of people love Bullion because its the cheapest and most economical way to do it, to stretch your dollar into as much gold and silver as possible.

The website is called WLT Precious Metals and when you see my logo in the top left-hand corner, you’ll know you’re in the right place.

You’ll get a personal phone call with Ira Bershatsky (or someone on his team) and they will work with you free of charge for as long as needed to answer any questions you have and get you taken care of.

How about that!

You don’t see that much anymore, but Ira and his team pride themselves on good old-fashioned real customers service:

No sales pitch, just real, actual help.

And the best prices you will find.

Here’s the only disclaimer I will give you: because they do pride themselves on dedicated service, it might take a few days before you get a phone call back.  Just be patient.

Good things come to those who wait!

You can contact Ira and WLT Precious Metals here.

Ira can also help you if you want to purchase Gold and Silver in your IRA.

I mean, his name is Ira, after all, OF COURSE he can help you purchase in your IRA account.

The thing I love about purchasing in your IRA account is you can do it with no money out of pocket.  You just take money already in the IRA account, perhaps in stocks or bonds or other investments, and you can shift it into Gold and Silver.

Again, I’m not your personalized financial advisor, I’m just explaining how it works.

And it’s REALLY cool.

So even if you’re saying times are tough right now, I don’t have a lot of spare money to shift into Gold and Silver, you might have a golden opportunity (pun intended!) already sitting there in an established retirement account.

I’ll be back next Friday with another Precious Metals Report update from Ira.

Until then….

Noah out.