Biden’s Super Bowl Blunder: SchiffGold Friday Gold Wrap 2.16.24

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JD and Joel discuss this week: why gold is down, Peter Schiff’s best takes on Biden’s Super Bowl shrinkflation ad, and thoughts about “the best time” to sell gold.


  • Gold traded Friday morning at $2,000/ounce (-$27 weekly)
  • Silver traded Friday morning at $22.83/ounce (+$0.25 weekly)
  • January inflation comes in at 0.3% or an annualized rate of 3.7%
  • US producer prices (PPI) rise the most in 5 months
  • What Biden gets backward about inflation and shrinkflation
  • The week ahead:
    • Banks are closed next Monday
    • LEI indicators released next Tuesday at 10:00AM
    • Fed FOMC January Meeting Minutes released next Wednesday at 2:00PM

Quote from Frederic Bastiat:

Everyone wants to live at the expense of the state. They forget that the state wants to live at the expense of everyone.”


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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