The Man Behind Utah’s $140M Precious Metals Fund: SchiffGold Friday Gold Wrap July 12 2024 | SchiffGold
Gold closed the week at $2,410 (up $19) and silver at $30.77 (down $0.43). JD and Joel interview Representative Ken Ivory, the man behind Utah’s recently-passed HB 348 law. This law enables the state to invest 10% of its $1.4 billion rainy day fund into gold and silver, stored in Brinks Salt Lake City. They also unpack the big CPI news and Fed rate cut expectation.
OTHER TOPICS DISCUSSED
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- Official June inflation data comes in below estimates (core CPI reads 0.1%)
- CME FedWatch tool shows September rate cut odds at 96%
- Wholesale prices increased (PPI data at 0.2%, above 0.1% forecast)
- Consumer sentiment at 8-month low due to frustration with inflation
Quote of the Week:
“Who controls the food supply controls the people; who controls the energy can control whole continents; who controls money can control the world.”
-Henry Kissinger
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The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the week’s economic precious metals news coupled with thoughtful analysis. You can subscribe to the podcast on Apple Podcasts and other podcasting platforms. The links are below.
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The above references an opinion and is for information purposes only. It is not intended to be investment advice.
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