Gold closed the week at $2,658 (up $37 since last week) and silver at $31.62 (up $0.47). We discuss the drivers of this week's new highs, stalling homebuying, and key news next week.

OTHER TOPICS DISCUSSED

-Consumer confidence plunges to lowest level since 2021

-US GDP revision reports 3.0% growth in spring

-August PCE is down, suggesting even more rate cuts to come

-Survey shows 82% of 2024 homebuyers express doubts

-China announces $280 billion bond campaign to save collapsing real estate

-Swiss National Bank cuts rates, following ECB

Quote of the Week:

Gold is money. It's still, by all evidence, a premier currency, where central bankers hold it."

-Ron Paul

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.