PRECIOUS METALS REPORT: October 11, 2024 (Buy the DIP!)

Happy Friday everyone!

Another week flew by and it’s time again for our weekly PRECIOUS METALS REPORT courtesy of my friend Ira Bershatsky.

As always, 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.

The data is in and inflation seems mostly cooked.

In fact, we might get deflation very soon — we’re already seeing it in many categories of the economy.

While that sounds great, the problem is it often comes with huge layoffs and a Recession that follows soon after.

In other words: Got Gold?  Got Silver?

Here are more details on what we saw this week and what is likely coming in the weeks to come, courtesy of my good friend Ira Bershatsky in his weekly update:

The economy and FED are at an inflection point. There are FED governors who see more interest rate cuts from the next few meetings, one sees a pause, and Jerome Powell, the head of the FED, says we’ll see.

The inflation numbers this week were considered tame and were near consensus estimates by surveyed economists. Yesterday, the Consumer Price Index (CPI) came in at an annual rate of 2.4% which was .1% higher than forecasts. Excluding the more volatile food and energy components the annual rate came in at 3.3%. This rate was .1% below August and was the lowest since February 2021. Muddying the picture was an unexpected increase in weekly unemployment claims of 258,000, the highest since August 2023.

Today’s producer price index (PPI) number came in at an annual rate of 1.8 % unchanged from the previous month and .1% below surveyed economist expectations of a .1% monthly gain. Excluding the more volatile food and energy components the PPI was up .2% for the month.

Both the CPI and PPI continue to be above the 2% FED target. Why are they lowering interest rates with inflation above their target and the employment picture looking okay? As I wrote in the beginning of this update, an inflection point. The FED’s feeling is that the employment picture will deteriorate over the next year. Hey, 23,000 FED staff members can’t be wrong!

Gold and silver have reacted positively to these numbers. There was an opportunity to buy on the dip earlier this week and then over the last two days buying on the upward momentum. I have been advocating either one in my writings for quite a while.

Until next time…

So…what can you do?

Just sit back and wait for the Market Crash to take you out like in 2008?

Not me!

No way, I’m getting prepared and getting my house in order BEFORE things turn nasty…

I can’t give you personalized financial advice but as for me, I’m buying as much Gold, Silver and Crypto as I can get my hands on.

Ira can help you if you want to do the same thing, he’s earned my trust.

I know many of you are already familiar with Ira Bershatsky, but for those who don’t know him, you can find Ira and his company, Advisor Metals, over 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.