PRECIOUS METALS REPORT: August 30, 2024 (Inflation Jump)

Happy Friday!  It’s time for our weekly PRECIOUS METALS REPORT courtesy of my friend Ira Bershatsky.

My standard disclaimer: Not personalized financial advice, but this is the quality of insight and macro analysis that people pay big money for…and thanks to Ira, I’m pleased to be able to share it was all of you.

Really bad news this week as inflation moved back UP, which is not what the Federal Reserve wants to see for cutting rates.

Everyone assumes the Fed wants to cut rates and will cut rates, but they’re boxed into a nasty corner if inflation keeps going up.

The Fed is trying to balance two goals — lowering inflation and not killing the job market — and at the rate they’re going they might fail at BOTH of those goals in epic fashion.

The so-called “soft landing” might turn into a landing so rough you’re gonna want to get your puke bag out.  But that’s just my rough paraphrase.

For August 30, 2024 — from the desk of Ira Bershatsky says it much better than me:

The significant economic report for this week was this morning’s release of the Personal Consumption Expenditures Price Index (PCE) for July which is the FED’s favorite inflation gauge.

Inflation increased .2% from the June reading and increased 2.5% from a year ago both in line with analyst’s expectations.

Excluding the more volatile food and energy components core PCE increased .2% from last month and up 2.6% from a year ago which was a .1% improvement.

In my opinion, these numbers continue to be above the FED’s 2% inflation target and the thought that the FED is now going to cut interest rates is being looked at for the wrong reason.

I believe the FED is looking to cut interest rates at their September meeting because we are heading into a recession. And is an election year…………

Gold and silver both declined this morning in a buy the rumor sell the news follow on. As of this writing gold is down $14.50 an ounce or .56% and silver is down .51 cents an ounce or 1.71%.

The gold to silver ratio is at 86.37% above the 80-85 buy indication.

Gold continues to be above the 50-day and 200-day moving averages and silver, which at the beginning of August was between the 50-day and 200-day moving averages, has increased to where it is now above the 200- day moving average and trading around the 50-day moving average.

Buy the dip!

I expect Gold to continue making new record highs just like it did last week.

I imagine I will be writing many more stories with headlines like this (not personalized financial advice, just my own hunch):

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.