Wall Street Selling Bonds and Buying Gold | SchiffGold Friday Gold Wrap

In this episode of the Schiff Gold Friday Market Wrap, Peter Schiff reviews a week of significant volatility in the precious metals markets. Key highlights include the FOMC meeting, quadruple witching day, and impressive gains in gold and silver. Gold rose by 1.1%, closing near $3,685, while silver surged 2.8% in a single day, ending the week 1.8% higher. Gold and silver mining stocks outperformed, with the GDX and GDXJ indices achieving remarkable gains. Schiff discusses the impact of the Federal Reserve’s rate cuts on gold and other markets, emphasizing the bullish outlook for precious metals. He also covers notable financial developments, such as Morgan Stanley’s updated 60/40 portfolio to include gold, signaling a potential shift away from US Treasuries. Schiff encourages viewers to invest in gold and silver now, ahead of further market movements, and highlights the long-term bullish prospects for precious metals and mining stocks. Subscribe for more insights and recommendations.

OTHER TOPICS DISCUSSED:

00:00 Introduction and Weekly Market Overview
00:29 Gold and Silver Performance
02:03 Gold and Silver Mining Stocks
03:39 Mainstream Media and Market Perception
04:46 Bond Yields and Rate Cuts
05:35 Fed Independence and Policy Implications
11:44 Morgan Stanley’s Portfolio Adjustment
16:53 Impact on US Treasury and Bonds
18:37 Bitcoin vs. Gold
21:32 Final Thoughts and Investment Advice