The Man Behind Utah's $140 Million Precious Metals Fund: SchiffGold Friday Gold Wrap 7.12.2024

SchiffGold Friday Gold Wrap Podcast

Gold closed the week at $2,410 (up $19) and silver at $30.77 (down $0.43). JD and Joel interview Representative Ken Ivory, the man behind Utah's recently-passed HB 348 law. This law enables the state to invest 10% of its $1.4 billion rainy day fund into gold and silver, stored in Brinks Salt Lake City. They also unpack the big CPI news and Fed rate cut expectation. OTHER TOPICS DISCUSSED -Official June inflation data comes in below estimates (Core CPI reads 0.1%) -CME FedWatch tool shows September rate cut odds at 96% -Wholesale prices increased (PPI data at 0.2%, above 0.1% forecast) -Consumer sentiment at 8-month low due to frustration with inflation Quote of the Week: “Who controls the food supply controls the people; who controls the energy can control whole continents; who controls money can control the world.” -Henry Kissinger 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. SchiffGold on Instagram: www.instagram.com/schiffgoldnews SchiffGold on Twitter: twitter.com/SchiffGold SchiffGold on Facebook: www.facebook.com/schiffgold SchiffGold's website: www.schiffgold.com