Trump's EOs set shockwaves through the markets. What's happening to inflation and gold prices? Gold closed this week at $2,775 (up $70) and silver at $30.60 (up $0.15). Joel gives the full price commentary at 11:03. OTHER TOPICS DISCUSSED: • 01:32 Key Economic Indicators  • 03:01 The Impact of Trump's Executive Orders • 05:57 Stargate and Cryptocurrency • 09:34 Global Trade Dynamics and Japan's Rate Hike  • 11:03 Gold and Silver Price Action Analysis • 14:04 Upcoming Economic Events QUOTE OF THE WEEK "We only swing at pitches we like." – Warren Buffet 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 The above references an opinion and is for information purposes only. It is not intended to be investment advice.

The world was aflame this week with political and economic fires, including California's wildfires, India's currency crisis and the freefall in the Chinese Yuan. How are precious metals faring? Gold closed this week at $2,705 (up $10) and silver at $30.45 (unchanged). Joel gives the full price commentary at 14:46. • 01:37 Biggest Economic Headlines • 03:42 Israel-Hamas Ceasefire and California Fires • 06:51 Kentucky Gold Tax Exemption Controversy • 07:28 Government Casts Economy in Rosy Light • 09:47 US Government Bans TikTok  • 11:28 India's Currency Crisis and Trade Deficit • 13:15 China's Economic Challenges and Yuan Weakness • 14:46 Gold and Silver Price Action Commentary • 17:14 Upcoming Economic Events and Market Outlook QUOTE OF THE WEEK "Most Americans have no real understanding of the operation of the international money lenders. The accounts of the Federal Reserve System have never been audited. It operates outside the control of Congress and manipulates the credit of the United States." – Barry Goldwater 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 The above references an opinion and is for information purposes only. It is not intended to be investment advice.

Gold closed this week at $2,695 (up about $50) and silver at $30.45 (up about $0.80). Price commentary begins at 7:45. We celebrate 50 years of legal US gold trading by giving listeners a discount. Use promo code "LEGAL 50." OTHER TOPICS DISCUSSED: • 01:42 This Week's Biggest Economic News • 03:04 Canadian President Trudeau Resigns • 04:28 Janet Yellen Almost Admits Pandemic Caused Inflation • 05:39 States Build Gold Reserves • 06:28 California Wildfires and its economic Impact • 07:45 Market Commentary on Gold and Silver Prices • 09:40 SchiffGold Promotion Discount • 10:36 Upcoming Economic Events and Closing Remarks QUOTE OF THE WEEK It is well that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." – Henry Ford 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 The above references an opinion and is for information purposes only. It is not intended to be investment advice.

Gold closed this week at $2,643 (up about $20) and silver at $29.65 (up about $0.30). 2025 is shaping up to be a year of huge economic uncertainty and downturn. We discuss what that means for metals. Market commentary begins at 9:37. OTHER TOPICS DISCUSSED: • 00:00 2025 Economic Outlook: A Cautious Start • 03:20 China's Cybersecurity Breach: Implications and Concerns • 04:43 Positive Developments in US Precious Metals Legislation • 05:44 China's Gold Buying Surge: Analyzing the Trends • 07:12 Consumer Credit Trends: The Rise of Doom Spending • 08:08 Political Landscape: House Speaker Dynamics and Market Reactions • 09:37 Gold and Silver Price Action: Anticipating 2025's Volatility • 14:43 Looking Ahead: Potential Catalysts for Market Breakouts QUOTE OF THE WEEK The few who understand the system, will either be so interested from it’s profits or so dependent on it’s favors, that there will be no opposition from that class." – Rothschild Brothers of London, 1863 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 The above references an opinion and is for information purposes only. It is not intended to be investment advice.

Gold closed this week at $2,625 (about the same as last week) and silver at $29.35 (down about $0.20). Joel recaps this year's biggest economic events and precious metal performance before looking ahead to 2025. Market commentary begins at 4:51. OTHER TOPICS DISCUSSED: -Gold up 26.9%, silver gains 23.7% in 2024. -Poor consumer confidence at 104.7 (versus 112.9 forecast). -US economic indicators and mortgages are worse than expected. -Russia keeps interest rates steady at 21%. -US debt hits $36 trillion, bank failures rise. -Hurricanes Milton, Helene caused $200B in damages. -Stock markets performed well in 2024; volatility expected in 2025. QUOTE OF THE WEEK "He who is unfit to serve his fellow citizens wants to rule them." – Ludwig Von Mises 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 The above references an opinion and is for information purposes only. It is not intended to be investment advice.

Gold closed this week at $2,625 (down about $25 since last week) and silver at $29.55 (down about $1.05). The Fed cut rates in time for Christmas but stock markets dropped on the news, spoiled by promises of bigger cuts in 2025. Price action discussed at 6:26. OTHER TOPICS DISCUSSED: -Sub-50 PMI and VIX spike warn of coming economic recession. -Central banks likely to continue cutting in response to economic weakness. -Market volatility is expected as central banks adjust their strategies. -Gold and silver are being considered as legal tender in Florida. -Chinese economic indicators show a lack of trust in government policies. QUOTE OF THE WEEK "The world is chaotic… the future is never clear.. I've made my whole career buying assets that other people consider uninvestable and when you do that you have a chance of getting a bargain." – Howard Marks 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 The above references an opinion and is for information purposes only. It is not intended to be investment advice.

Gold closed this week at $2,650 (up about $25 since last week) and silver at $30.60 (up about $0.41). Joel discusses higher inflation, global rate cut momentum and when gold and silver may rally. Price action discussed at 5:38. OTHER TOPICS DISCUSSED: -Trump's comments on inflation reflect a misunderstanding of economic principles. -Producer inflation came in hotter than expected at 0.4%. -The Swiss National Bank announced a surprising 50 basis point cut. -China is considering quantitative easing due to economic struggles. -The U.S. is not out of the monetary woods with high debt levels. -Future rate cuts by the Fed are likely to drive gold prices higher. QUOTE OF THE WEEK If tariffs really didn't cost countries anything, every country would just be imposing tariffs, right? If it doesn't cost your own people anything, why don't you just run on tariffs? Why doesn't every country just impose tariffs if it doesn't cost anything for their own citizens? If you could just tax foreign countries, why not do that? Because they can't vote. It's preposterous. A tariff is a tax. It's a tax on the consumer for buying stuff. 100% of it is paid by consumers. There's nobody else to pay it! It's an indirect tax on consumers." – Peter Schiff 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 The above references an opinion and is for information purposes only. It is not intended to be investment advice.

Gold closed this week at $2,625 (down about $30 since last week) and silver at $30.01 (up about $0.36). Joel discusses Black Friday sales, global economic challenges in India and China, and Bitcoin above 100k. Price action discussed at 10:40. OTHER TOPICS DISCUSSED: -Brick and mortar stores grew their traffic 3.8%. -Gold has no diminishing marginal utility. -CME Group will offer micro gold contracts in January 2025. -India's RBI has a massive $60 billion short position. -China's stimulus efforts are failing to revive the economy. -European banks are favoring government bonds over private lending. -Why gold may remain range-bound until 2025. -Bitcoin has officially hit over $100,000 on the spot market. QUOTE OF THE WEEK Remember, that's how capitalism works. You get rich by enriching everybody who voluntarily does business with you. The money you make is a reflection of the work that you did, of the effort you put in, of the benefits that society derived from your work." – Peter Schiff 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 The above references an opinion and is for information purposes only. It is not intended to be investment advice.

Gold closed this week at $2,655 (down $60 since last week) and silver at $30.65 (down $0.70). Joel discusses troubling retail sales, Musk's meteoric rise and the department of government efficiency (DOGE). OTHER TOPICS DISCUSSED -FedWatch predicts 66% chance of rate cut December 18. -U.S. GDP grew 2.8% quarter-over-quarter, meeting expectations. -October new home sales fell below expectations to 610,000. -October money supply rose 5.1%, highest in 15 months. -Tesla stock surged 40%, boosting Musk's net worth $70 billion. Quote: The most terrifying words in the English language are: I'm from the government, and I'm here to help – Ronald Reagan 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 The above references an opinion and is for information purposes only. It is not intended to be investment advice.

Gold closed this week at $2,715 (up $153 since last week) and silver at $31.33 (up $1.10). Joel and JD discuss recent price action, 100k Bitcoin and why Goldman Sachs predict just 1% annual returns to the S&P 500 over the next decade. OTHER TOPICS DISCUSSED -Initial jobless claims came out at 213,000, beneath expectations. -Consumer sentiment remains stagnant at 71.8. -Household savings are dwindling while credit card debt is skyrocketing. -Goldman Sachs analysts predict just 1% annual returns in S&P 500 over next decade Quote: There is an old saying, If you’re not a liberal by the time you’re 22, you don’t have a heart. If you’re not a conservative by the time you’re 28, you don’t have a head. Well, a lot of 22-year-olds are buying Bitcoin, and Trump got their vote. He got their vote by pandering to their most important issue, which was getting rich off their Bitcoin – Peter Schiff 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. The above references an opinion and is for information purposes only. It is not intended to be investment advice.

Gold closed this week at $2,562 (down $123 since last week) and silver at $30.23 (down $1.20). Joel discusses recent price action, recent USD gains, and why Trump faces a terrible dilemma around inflation. OTHER TOPICS DISCUSSED: (1:52) Official inflation rose to 2.6%, with core CPI still above target. (2:15) Rate cut chance in December dropped from 65% to 27%. (4:12) Retiree Debt Rises: 68% of retirees now carry credit card debt (8:00) Dollar Hits 1-Year High: Dollar index climbed to 106.47 (10:15) Why Trump must cut spending to curb inflation Quote: The inherent vice of capitalism is the unequal sharing of blessings; the inherent virtue of socialism is the equal sharing of miseries. – Winston Churchill 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. The above references an opinion and is for information purposes only. It is not intended to be investment advice.