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PRECIOUS METALS REPORT: August 9, 2024 (Buy The Dip WINS Big!)
Welcome back to another PRECIOUS METALS REPORT courtesy of my friend Ira Bershatsky.
We’re going to be bringing you this weekly report every Friday going forward, and based on all the great feedback I got to last week’s first installment, I think you’re going to really enjoy this.
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.
I’ve working with Ira for a couple years now, and the man knows his stuff!
So here is your Precious Metals Report for August 9, 2024 — from the desk of Ira Bershatsky:
Wow, what a week! Market whiplash was on the menu. Buy the dip in gold wins again!
The stock indices dip on Monday was reminiscent of October 19, 1987. James Baker, the US Treasury Secretary at the time, was at odds over currency valuations and interest rates with our trading partners. Push came to shove the following week, and world markets tanked the following Monday. They did begin to recover days later.
Last week on Thursday, Japan raised their interest rate, which ran counter to the rest of the world’s largest economies who were keeping interest rates steady or lowering them. This derailed the Yen Carry Trade, where cheaper Yen is used to purchase other assets. So… on Monday, world markets tanked. Now, a few days later, they have begun to recover. As I wrote last Friday, “Here we go again!”
How did gold and silver do versus the Dow Jones Industrial Average (DOW)? From the close on Friday, August 2nd to this morning, August 9th:
Gold is up 0.40% so far this morning and is up 0.16% from last Friday’s close.
Silver is up 0.14% this morning but down 2.46% from last Friday’s close.
The DOW is down 0.10% this morning and down 0.83% from last Friday’s close.
The largest drawdowns during the week were:
1.1% for gold,
4.14% for silver,
and 2.6% for the DOW.
Gold is doing what it does—hedging your assets.
Gold continues to be well above its 50-day and 200-day moving averages. Silver continues to trade between its 50-day and 200-day moving averages.
The one significant economic report out this week was Thursday’s initial jobless claims report, which came in lower than expected. Will this put a delay in a Fed rate cut or cause a smaller cut?
The talking head prognosticators—who are usually wrong—bellowed about a Fed emergency interest rate cut after Monday’s market meltdown. As of today, no emergency rate cut.
My customers have been buying silver at these levels, and with the gold/silver ratio at 89.45, it is at a level where historically silver has moved higher.
There you go!
As usual, I have you tell you that I am not a financial advisor, and neither Ira nor I can give you personalized financial advice.
This report is simply what Ira sees for the economy and will give you some ideas you might be able to act on if it fits into your overall strategy. That’s up to you.
I know many of you are already familiar with Ira Bershatsky, but for those who don’t know him, you can find him 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.
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