Smart Macro: Gold Hits New Record, Silver Climbs – Here’s What’s Happening

September 13, 2024 – Precious metals experienced a significant surge this week, with gold hitting a new record high of $2,610/oz and silver climbing back above $30/oz. If you're invested in precious metals or have an interest in this market, today’s show will provide valuable insights into the factors driving these price movements. We’ll also be exploring key charts, data, and indicators to better understand the potential trajectory of precious metals during this bull market. Joining as always for our Smart Macro edition of the Financial Sense Newshour is Chris Puplava, Chief Investment Officer at Financial Sense Wealth Management.

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Mentioned in today's show:

Gold Imports Surge 429% YoY in August Ahead of Festive Season - Times of India (indiatimes.com)

Gold hits new highs as US govt spending surges to $6.29 TRILLION

Gold appreciating relative to nearly every major currency

gold world currencies
Source: Bloomberg, Financial Sense Wealth Management

Gold and silver ETF holdings show lack of retail investor participation

gold silver etf holdings
Source: Bloomberg, Financial Sense Wealth Management

Gold-silver ratio shows silver underpriced relative to gold

gold silver ratio
Source: Bloomberg, Financial Sense Wealth Management

Gold-platinum ratio shows platinum underpriced relative to gold

gold platinum ratio
Source: Bloomberg, Financial Sense Wealth Management

Gold-palladium ratio shows palladium underpriced relative to gold

gold palladium ratio
Source: Bloomberg, Financial Sense Wealth Management
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