Greg returns to discuss the US dollar, fiat currencies, gold, silver, and what’s likely to spring the precious metals next…
For this week’s gold and silver podcast, we welcome back returning guest Greg Weldon, a financial market expert with over 35 years of experience in financial markets.
Mr. Weldon began his career trading in the COMEX NYMEX precious metals derivative futures contract pits. Today, he joins our gold and silver podcast to close the week’s trading action.
A mostly sideways week for the precious metals.
The spot gold price is closing just above $1,490 oz in fiat Fed notes.
The spot silver price looks to be ending the week priced just over $17.50 oz.
The spot platinum price is ending the week around $890 oz.
And the palladium price has been bolstered by rocketing lease rates in London, indicating further physical shortages, has now found a fresh record nominal high fiat US dollars closing this week just over $1,750 per ounce.
The gold-silver ratio ends the week 84 ounces of silver to acquire one ounce of gold.
Greg Weldon thinks a falling US dollar (DXY) vs other major fiat currencies is likely what will spring gold and silver prices next.
Welcome to this week’s Metals & Markets podcast.
I am your host James Anderson of SD Bullion.
Last we spoke with Greg Weldon, it was early December 2018.
Prices for all major precious metals are up substantially from then.
QT and Fed rate hikes have since drastically reversed.
The Fed’s balance sheet is again expanding at historically high rates, they appear ready to cut interest rates again at the end of this month.
The REPO market is signaling something perhaps more dubious is percolating under the scene.
I wonder if you could give our listeners a few financial market factors you are currently keening on?
Is the USD relative strength vs other fiat currencies, is that still one of the main release valves for financial markets?
Last time we spoke of then record and growing consumer debt load$.
How are things looking on that front?
Thanks for visiting us here at SD Bullion.
About the Author/Interviewer
James Anderson has a BA in finance from Loyola University New Orleans. He has both worked and invested in the physical investment grade bullion markets prior to the 2008 global financial crisis.