PRECIOUS METALS REPORT: November 1, 2024 (Stock Market TANKING?)

Happy Friday everyone!

It’s time again for our weekly PRECIOUS METALS REPORT courtesy of my friend Ira Bershatsky, and the last one we will have before the most important election of our lifetimes.

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.

And as we head into that Election, the economic data is terrible and the stock market is tanking as I write this.

Here’s more from my friend Ira Bershatsky in this week’s Precious Metals Update:

Several economic reports out this week. The 3rd quarter GDP number was released on Wednesday at up 2.8 percent (Advanced Estimate) which was in line with expectations and did not move the markets significantly.

Much of the increase came from government spending. On Friday, the employment report for October showed 12,000 jobs were created against an estimate of 100,000. The markets reacted positively to the news with gains across the board. Two reports were inflation-related.

On Wednesday, the Consumer Price Index (CPI) for September was released and the core (less the volatile food and energy components) number was up.1% to 3.3% versus August’s 3.2%. In-line with expectations as they say. Expectations or not, a higher inflation number is higher inflation.

On Thursday, the Personal Consumption Expenditures Index (PCE) (the FED’s favorite inflation gauge) was released and the core number, which is the one the FED watches most closely, increased .3% to 2.7%., above the FED’s inflation goal of 2%. Yet, the financial news people were celebrating a small increase. Inflation is inflation.

Most markets reacted negatively on Thursday, with the major stock indices down form the previous day along with gold and silver. The financial news reporters are calling it profit taking from the recent run-up in the metals. For decades my response to that has always been I want to know who is taking profits. It can’t be everybody especially the investors who purchased higher!

Regardless of the positive spin on the inflation numbers, my feeling is that the inflation numbers continue to be too high and persistent putting a dampening on the potential of the FED lowering interest rates as quickly as the markets would like. Buy the dip.

Until next time…

As always, I can’t tell you what to do and I certainly can’t provide personalized financial advice for anyone.

But as for me personally?

I sleep better at night knowing I own Gold, Silver and Crypto (especially Bitcoin and XRP).

In fact, I just wrote this recently:

https://wltreport.com/2024/10/31/heres-what-i-told-family-member-who-asked/

Focusing just on Gold and Silver, it’s important to have a trusted dealer you work with.

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.