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The Real Money Show
Gold Prices Revised Higher... Again
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We have all of the revised forecasts on gold and silver or Tanzania nationalizing mines. Where do you want to go first? There's so much stuff, Jeremy. Where should we go first? I guess the week that was or where we're at technically on the week. All right. Let's start there. All right. The week that was silver week, another up week on silver, 3.4% higher from a low of $31.13 gold, about a percent higher, another exciting week in gold, a low of 26.30 US and we're up to about 26.50ish right now. This week, it was just metals and even US dollars, safe havens emerging as investors are becoming more risk averse due to what's going on and escalations in the Middle East conflict. Metals pull back a little bit today as the loony fell to a one week low to end this week. Congrats to the Canadians that got into the market this week. You got involved with the stronger Canadian dollar and purchasing power. Just moments ago, the US just reported the jobs data added a whopping 254,000 jobs. Biggest monthly increase since March, almost 20,000 more than expected. But if we look into the numbers, Jeremy, always go into the fine print. And this is from the coastal journey, the journal out of California. All you have to do is read the report instead of the headlines, private versus government jobs. Before adjustments, the private sector actually lost 458,000 jobs in September. Another time and another instance where you just have to take their information and data with a grain of salt. Call it information. I like it. It's information. Yeah, I think we're easily going to see those numbers revised as per usual. We all know the drill. And as they get revised, the federal probably have no choice but to lower interest rates again. So we're not going to make too much noise on the information today or the information today. That's right. But next week, we have the FOMC minutes coming up on Wednesday, Thursdays, inflation numbers and US consumer sentiment all on Friday. Now, I just meet as a trader and precious metals analyst, as you want to call it, I primarily focus on what's going on in the US because the US has that world reserve currency. For now, everything is traded in US dollars. So we have to be cognizant of how things are traded. But I say for now, why do you say for now, de-dollarization, but do you think do you think that that eventually the US will not be the reserve currency? The US is on the verge of potentially this becoming a formality of them losing the dollar reserve status. But the question is, are they going to let it happen? And I believe they're not going to let it happen. Okay. All right. Why do you say that? We'll get into that when we talk about the Federal Reserve later on. Okay. All right, fine. But some good analysis that came out to this week. Technicals for gold medal has been consolidating sideways for a little bit from daily Forex's trader guy, Christopher Lewis. He wrote in his report that back and forth, silver and gold, gold has been an uptrend for quite some time. Multiple support levels that we need to pay close attention to in the biggest one at the moment for gold on the support side is 2,530, which is around the 50 day moving average. But he says on any pullback, if we do see a market pullback to these areas that he anticipates and the entire daily effects trading team, plenty of value hunters willing to buy physical silver physical gold. After all, there's a situation where interest rates are falling around the world. Central banks like India, China, Russia are buying up the gold. And of course, the geopolitics of the world is a complete mess right now. And beyond all that, it's quite frankly a strong uptrend. And there's no reason to fight it. He says we're in the midst of perhaps forming a little bit of a bullish flag right now at the moment, no interest in trying to get short of this market. That's right. It's far too strong. And we don't think the we don't and we don't think that eventually we will go looking to the 3000 level for over the next six months. So the next few months, he sees 3000 gold. I see it much higher than that though, Jeremy, I think we're this is these are very in short term. Yes, within within a few months is what he says. So that was Christopher Lewis, the trader guy from daily FX, you want to check out his headlines, we're going to be posting that as well on the newsletter. The number one eight seven seven eight silver and the website guildhallwealth.com at Guildhall. We're only dealing an actual physical gold and physical silver. We have the motto if you can't hold it, you don't own it. And that also goes for the depository and registered accounts clients who have physical metal in registered accounts, they own that directly they can go to the vault and personally audit their holdings and hold it in their own hands. You cannot do that with paper instruments or what what we would call gold and silver air quote investments. And when you want to make a distinction between ownership and investments, investments have counterparty. Ownership does not. If you own that physical gold and silver, you can go to the vault and personally audit it. If you want to pay with holding taxes and take it out of your RSP, you can do that too and have it physically delivered to you. But you can't do that with a lot of gold backed funds, pool accounts, certificates. You know, it's funny about certificates, Jerry. The last couple of weeks, I've had a couple interesting calls and I haven't had these calls at least a decade. Someone had a certificate with a credit union and they couldn't they were done. They couldn't do anything with it. You have the same similar call. Wow. A lady inherited some gold that was gold quote, you know, air quotes, gold from Scotia, Makata that went debunked years ago. I think it was in 2000 in 2009, he bought the he spent over $150,000. There were seats she had gold certificates as well as gold coins, bullion is as she was paying storage fees. That's my question. If you're paying storage fees, okay, there's some physical she called Scotia, couldn't track it down. Well, here's my order number. Couldn't track it down. What happens with with the trust? What happens with the trust that's supposed to secure your certificate? You're on a wild goose chase. I gave her some number, some resources that you can follow up on, pulled up some resources from Ronan Manley from Bullion Star in Singapore, hoping that it can help. Again, I mean, you have to, if you purchase it, if the invoice header says Scotia, hopefully they can help. But unfortunately, and she really sound panic is 150,000 of your late husband's hard work and sweat and tears. It's horrible situations. And ultimately, I would just say, listen, if you're going to go with something like that, you better make sure that you updated every few years to make sure that it's fully up to date, and track where it's going. In our market, in physical, you can set it and forget it. You could throw it in a safety deposit box. You can put it in the vault. You can set it and forget it. But if it's in a paper instrument, these are the type of BS situations that people find themselves in. Another unfortunate story this week, we had, we found out about someone who had some physical gold stolen from their property. That is going to become more frequent. And there's nothing wrong with storing it yourself. But understand that unless you are specifically getting insurance for that, you're not going to be insured. You'll be lucky if you'll get insured for that. I wish and I hope that they do get insurance on that. But you know, for what? Yeah, there's a great people. It costs 1% to physically store your product. For the year. Gold's up 35% this year. It'll take 40, it'll take like 40 years for you to pay storage to eat up your profits 35 years, I guess. But look, Silver's up 3365% in the last two decades. Gold's up 538% in the last two decades. Loving Silver, by the way. I think that people should probably be putting in considering owning more Silver than gold at this point. I know some people are just because of how much it's moved. But I digress. If you want to own physical gold in Silver, give us a call 1-8-778 Silver and the website guildhallwealth.com. Jerry, a couple minutes before we go to break here. What else is going on in the markets this week? Yeah, just to summarize the technical analysis from Christopher Lewis, I think. Yeah, we always want to be a little bit cognizant of the support levels, the trader in all of us, the saver in all of us, the clipper in all of us. We want to make sure that we're buying at the right price. And we try to do that with Guildhall. We want to look at what's going on with the Canadian dollar, which is why I'm always focused on what was your loony doing? How much purchasing power can you get done? So when you're seeing any type of pullbacks in this market with so much demand and so many reasons for the topside potential versus any type of pullback scenario, which is usually because of these jig-d and rigged figures from, in this case, the BLS, you want to take advantage of these dips whenever you can, because I do mirror and I do echo his sentiment that eventually we're going to be looking at the 3,000 level over the next few months. And you're going to be very, very happy that you bought when gold was around 26/7. Of course, we want to buy when in 2016, when gold hit a low of 1,050 cats off to you, but where we're going in this market, you're going to be looking back and be like, I'm so thankful. I bought at 27 because where we're going, Jeremy, we're going to the moon. Precious metals is not an asset where we can be in a bubble territory. You have bubbles in every market, bubbles in the stock market, bubbles in real estate. You do not have that in a physical asset that you have to print blood, sweat, and tears out of the ground and pull it out. This is the time to look at the market soberly. Look at your portfolio, and if you do not own one ounce and you have an ounce of concern in this global financial debacle that we're in, now it's time to get in touch with Guildhall. The number 1-8-778 silver, the website guildhallwell.com. If you didn't have reason enough because central banks were buying and the geopolitical risks, you might want to consider the strength of the financial system as well. Let's get into the federal reserve in the next segment. Again, 1-8-778 silver, the website guildhallwell.com. More to come on the Real Money Show on 640 Toronto. Welcome back to the Real Money Show, the number 1-8-778 silver, the website guildhallwell.com. I trust that as you're listening to all of these reasons and all of the events that are happening around the world that you are strongly considering physical precious metals in your portfolio, it is a great time to be getting involved. It is a period of momentum and things are unraveling quickly and moving quickly in the market as well. We want to get into some of the real big risks in the market, especially with the Federal Reserve as an example and the financial system as a whole. But let's start off, Jerry, with one of the symptoms of the problem and that is what happened this week with Bank of America. I heard the news. I'd love for you to get into the details for me, but I did hear that there were outages across the country in the United States. People couldn't even take cash out of the bank. The ATMs didn't even work. I heard that when people tried to call that they couldn't get any answers. Imagine that. I got so anxious thinking about that, but it also reminded me of that great series on HBO years and years because there's a bank failure in the first episode and everyone's banging on the windows trying to get in, and that's it. Whoever had money in that bank gone. I do think also about that idea of insurance, and everyone puts a lot of faith into insurance, like aid insurance, deposit corporation, or FDIC. It's academic. You know why it's academic? Look at what's happening right now in West Virginia with the, or North Virginia, with the hurricane stuff. Carolina, thank you. You know, when it actually happens, where's the government? Where are they? Do you trust the government here in Canada? I know you and I talked a little bit watching a post about some stuff about Canada right now, what their environmental... What was it? Yeah, it was just Canada's House of Commons. There's a lot of issues. Apparently it's been seized. The House leader, Andrew Shearer, says it will continue. Basically, there's mass corruption being uncovered here, folks, and we know as our funds have been misused with money intended for climate change efforts, and it was just a crazy show that happened in the House of Commons. So there's a shutdown. And this is it. Just fiscal dilemmas that we're in, not just in the U.S. I mean, FEMA's bankrupt in the States, and we also have this going on in Canada. We're on our own. We have to prepare ourselves. It's corruption. There's negligence. How are you supposed to make sure that your money is safe in the bank? And then you get an article like this coming out about shortages across the country, if you had an account with Bank of America, as if they don't already have enough problems. But tell us about that story. Exactly. This kind of bleeds into, you know, if you can hold it, you don't own it. You know, this is why we offer the most efficient and direct routes into the physical precious metals market so that you can protect your wealth yourselves entirely outside of a failing currency system and the digital banking system as this week Bank of America customers saw it firsthand. Now, things are supposedly being fixed, but customers were recently shocked when a system outage caused online balances to show zeroes, triggering widespread panic. The bank's delayed response raised concern about the reliability of digital banking. This incidence is a reminder of the growing risks as we move towards over digitization and how many passwords do we have outages, cyber crimes, you know, we think about when cyber crime, Klaus Schwab and the World Economic Forum, when they're starting to say cyber crime is of the utmost importance, you better beware. When he starts talking about cyber crime, you better be paying attention and overall financial instability. This is becoming more and more frequent. And, you know, this is revealing ultimately cracks in the financial system that could threaten your savings. And in these uncertain times, by holding wealth with gold and silver, it's a no brainer. Unlike digital currencies or fiat currency that could just be printed out of thin air or digital money, which is just binary code, you can turn a one into a zero very, very quickly. And I think Venezuelans know that very, very much. And people in Cyprus who went through what happened there, gold and silver, tangible assets with intrinsic value, their proven stability in this time is so important. So I, you know, sometimes things are, you know, coincidental. And sometimes things are not if, you know, if Klaus Schwab is saying be careful of these type of certain events, I would say, oh, yeah, I believe, I believe you. That's not a coincidence. But do you think Buffett selling Bank of America was a coincidence? No. Do you think he just maybe looked at it and said you guys are a mess? It went crazy. He went crazy selling off shares this week. I think it was over $2 billion worth of Bank of America shares. Timing was perfect. When do you think he's going to jump into the gold mark? When do you think he's going to cast off the shackles? Because I guarantee, I guarantee, and you can call me a conspiracy theorist, but I guarantee it was his medal that launched the ETFs in the first place. And I guarantee that the, that the powers that be said, you will not own physical precious metals. There is a video on YouTube. You can watch how much he understood the silver market. He probably knew more than you, than you know, after 15 years, Jerry, he knew after like a year studying the market. He's never owned it since. They always pull him out to try to protect the markets. I think he got the hunter, the bunker, hunter, what is it? The hunters. Yeah, bunker hunt treatment where they're like, yeah, you can't own this. No. You're too big. This is not working for us. But do you think he'll ever cast those those those shackles and end up owning again? He could be the the Goldman Sachs who had identified a secret buyer. I mean, secret buyers are there. We can't reveal who they are, right? But you know, I doubt he's the secret buyer. I doubt it too. But you know, the fact that we have quotations for secret buyers from Goldman Sachs is very revealing. And what's more revealing is you try to go to your bank, to your to your financial institution and ask them if you can buy physical gold or silver in their RSP or or any type of account. And they'll tell you, no, don't give it away, buddy. Don't give it away. You know, with Guildhall, you can own physical, gold and silver in your RSP. It's fully allocated to you. It's fully segregated. It is direct ownership. And it's held in a vault facility outside the banking system. That's why we're talking about all this stuff. I know Jim Willy had some issues with Bank of America as well. I really want to get on to the Federal Reserve being bankrupt though. Do you want to talk about Jim Willy or should we move forward? I think we can move on. We know Jim's position. I recommend checking out his tweets on Bank of America this week. Man is on fire. But yeah, Federal Reserve, wow. So I was watching a video this week by Mike Maloney of GoldSilver.com. He wrote one of the first books on Gold and Silver when there was maybe three books available. And he was talking about how since 2022, the Federal Reserve has not been able to send any money to the to the Treasury. And effectively, they've just been sending IOUs and that they're bankrupt paying billions of interest. And I remember you talking about this on this very show. That's what we do Jeremy. Can you tell us a little bit about the scenario? I don't want to get too into the weeds on it, but they're bankrupt. They're not making any money. They're paying too much juice. Yeah, it's been the case. So last year, I don't know if you remember when Powell testified before Congress. Well, I do. I remember that day. I touch upon things like monetary policy, cryptos, regulations, climate, but there was little interest to focus said about the Fed's balance sheet. Over the past six months, the Fed has faced significant operating losses, losing capital and cutting revenue. The Fed expanded, obviously, for the pandemic, printing and purchasing large amounts of Treasury bonds. You should see these charts. Now, profitable at first, and they're now contributing to the Fed's financial strain posting, posting huge losses. Now they're paying higher interest on bank reserves, and it earns much, much lower returns on its bond purchases leading to a massive 244 billion dollar annual loss. Yes, the Federal Reserve, the entity that prints money for a living is losing money. So technically, the Fed is insolvent. Liabilities are exceeding assets, but instead of declaring bankruptcy, it's creating deferred assets, future earnings expected to offset current debts. And these assets are now at 48 billion, allowing to keep the Fed functioning, but delay payments to Treasury, burdening taxpayers, of course. Now they're avoiding closure, and unlike any private bank, they can avoid closure. But reforms are obviously needed to cover capital shortfalls and shrink the Fed's balance sheets to prevent hyperinflation crashes and distortions in any market and avoid costs from the taxpayer, of course. But hence, this is the reason why a Trump administration said they would restructure the Fed, and even the Gold Standard Restoration Act that was imposed, that was put together by, I forget, Mooney, to define the dollar as a fixed weight of gold, and for other purposes, as Congress finds the following. The Congress found that the Federal Reserve note, the central bank has lost more than 30% of its purchasing power since 2000, and 97% of the purchasing power since the passage of the Fed Act in 1913. And mind you, we just celebrated the 25th anniversary of the euro for all the Europeans out there. The euro has lost 90% of its value in 25 years versus gold. So this, again, a momentum thing, it is all momentum. And we need to read it. Exactly. It's just compounding. And we just have to be mindful of what the problem is. The problem has always been the central bank. Refocus has to be back on the Federal Reserve. And there's so many things that are trying to dissuade our attention into repurpose our attention from being the ports that were supposed to go down this week. And the ports were supposed to be the closures were supposed to be the cause of all of the inflation that we're seeing. Well, they averted a strike on the ports. And even the mass immigration being blamed for a higher cost, sure, bad policy. But guess what, before the loose immigration policies a year prior, the Bank of Canada went to town and printed four times the size of our economy. That's where the inflation came from. The central bank, which should be our focus. The point is, is that the central banks here, whether it's Canadian or the Federal Reserve, are in panic mode. And they're also at a stage, a late stage in the financial system, where they are printing way too much. They're in way over their head that this is going to lead to more and more fragility. And when that happens, you don't know when the next shoe is going to drop. And you don't know when the next crisis is going to happen, because there's no way that you get out of this unscathed. And so yeah, there's there should be massive reforms personally. I don't think the Fed's going to exist in the next 10 years. But definitely going back to a gold standard could instantly fix things, the problem that they could have fixed in 1971. Because all they had to do is revalue gold in 1971. They decided, Nope, we're going to shut the gold window. We're going to we're going to decouple. And what ended up happening, gold revalued anyway, got up to a high of 850, came back down to 350. But there you have it, it went from $35 to $350. You want to get rid of debts. All you have to do is revalue again. And that's why central banks are buying. They have the revaluation column on their spreadsheets. They know that they that this is going to be revalued in a big, big way. I know there's law law talk in terms of where the prices could go. You know, I think it was Jim Rickards again, or even Peter Schiff talking 27 it was Peter Schiff talking $27,000 gold. Look, it be let's get to 3000. Let's get to 4000 before we really start to think about those numbers. But they are possible. One of the most stunning things about this video, by the way, on Mike Maloney, is he went through how long it would take to pay off 35 trillion in debt. We've talked about that. Oh my gosh, it was something like you'd have to make you'd have to pay off like a billion dollars an hour for four years. The country doesn't make a billion dollars an hour. You know what I mean? So, you know, at millions an hour, it's going to it would take thousands of years, like at a one million hour. It's just it's like ridiculous numbers. You can't pay it off. You could revalue gold and you could also then default on certain debts. And I think that's probably what's going to happen to personally. I know we're kind of off topic here, but why wouldn't they say, you know what? Federal Reserve, I ain't paying interest to you. You know, we're not going to pass the Fed Act again. We're going to cancel that. Congress is going to cancel that. And then they'll say, oh, and by the way, we don't know you interest. Since you're since you're no longer exist, we don't what do we have to pay you? And I don't know how much of the federal debt is the federal reserves that we that that they're paying taxes on. But I guarantee it's probably a lot. Oh yeah. You know, I will see what happens. The number one eight seven seven eight silver, the website guildhallwealth.com. Get on the gold train more to come on the real money show on 640 Toronto. Welcome back to the real money show. The number one eight seven seven eight silver and the website guildhallwealth.com. Jerry, this piece of news that came out this week, I thought was set a lot about Canada, actually. And it was that Tanzania basically semi nationalized all of its gold mines. They went to the gold mines and they said, listen, 20% of your output, we want it and we'll pay market price for it. That's it. You could they could have taken 20% of their minds and said, we're just going to nationalize those. Yeah, they didn't they they played fair. They said, okay, listen, like we we just want you to help us put gold into our own coffers directly from the mine directly from the mine. Makes sense. And we talked about that before before we before we we connect that to Canada. I just want to tell you a quick thing. I was watching this animated graphic this week. And it was it was can barrels of oil rising with with flags on top. And it was just showing who in the world, which countries in the world have the most oil. Yeah. And I'm watching this. And I'm you know, and it would go two or three countries and then it would just charge upwards to the next level, right? I'm like, where's Canada? Where's Canada? It was like it was definitely in the top 10. I think it was in the top five. I think we're not four or something. Yeah, I was looking at the something. We're rich. We're a rich country. Oh my gosh, Beverly Hill, but he's when he cracked oil. I'm pretty sure we're importing oil at this point, you know, shut it down. And as far as gold mining is concerned, we're the fifth I know we're the fifth largest gold mining country in the world. So you kind of sit here and you go, you know, I've had clients say, well, what if they want to confiscate our gold? And I always say, okay, listen, now we're getting back to Tanzania. Listen, they confiscate 45% of your income tax. They confiscate extra provincial taxes on top of that tax. Then there's inflation, we call that the hidden tax, which they say is a 2% or 3% when you know it's double digits. And then there's all the other hidden taxes, carbon taxes and all of that stuff, which the environment is doesn't care if we pay taxes, by the way. And so, you know, if you're paying 70% of your income to the government, what do they need to confiscate your actual physical stuff? They're already succeeding. Yeah, they're already succeeding. Plus, don't forget the whole scyop. Once they once they untethered physical gold to the to the to the dollar, they started the scyop. You don't want gold. It doesn't pay a dividend. Yes, exactly. It doesn't pay a dividend at all. Mind you, the dividends and that they're getting that are offering you at these banks, the GICs and things like that. I mean, you're not getting that anywhere else, you're getting, you're going to exceed these hidden taxes through the ownership of gold and silver. And you know, it's a pet rock, you know, it's volatile, which I love volatility because in 20 years, gold has had three down years, you know, 20 years, how is that volatile? You want to just go day to day or you actually want to look year to year? It's had three down years in 20 years. So oh, but by the way, if you insist, if you're if you're one of those crazies who insist on owning on owning this pet rock, this relic, how about this GIC? How about this? It's carried over here. This certificate. How about the certificate? Because we're not going to be here in 20 years, right? That's the case. Yeah, that's the case to laugh. That's what's happening. So so I think about that, and I think yet don't worry that that they sold off the rest of Canada's gold. We've got it in the ground, we can pledge it. They could easily go to the to the mines around the country and say, listen, we need to get some gold into our coffers pretty quick here. We'd like to we'd like to take a 10%. You know, if they didn't lease out the mind, if they didn't lease out future output to other countries, hopefully the Canada Canada's gold in the ground still belongs to us. We don't know yet, but it's definitely the the case of becoming your own central bank as we follow who's demand who's demanding the gold in the silver. It's the central banks, the reporting net purchases, the gold.org central bank quarterly update came out and continued to demand eight trillion in August from central banks such as National Bank of Poland, central bank of the Republic of Turkey continues to buy central bank of Kazakhstan continues to buy. India continues to go. And this is it. This is the central banks because central banks require countries require a portion, not for not for financial gains, you know, we're not rolling the dice and trying to make you know, hit a jackpot here. They require a portion of the reserves in physical gold as wealth insurance for the unique combination of global liquidity and independence from devaluing currencies and financial institutes. And yes, Canada has no gold. We have no gold reserves. Other central banks do. So we need to become our own central banks for the for the sole purpose of your of your family and and shift and shift this strategic strategy. If you don't own any gold or silver, you need to shift the strategy and do what the central banks are doing, doing what these large companies and shifting the strategy is what we're seeing Russia do in the world right now. Russia is set to boost silver reserves in major precious metals strategy in a strategy shift. They're shifting the strategy for silver becoming a key asset in expanding the state fund a report by Interfax cited by Bloomberg reveals Russia's draft federal budget plans to increase holdings in gold platinum palladium and for the first time silver. This marks a major change as silver has been overlooked despite record gold purchases following sanctions. The inclusion of silver suggests an evolving financial strategy as Russia continues to diversify its reserve in response to sanctions highlighting the metals potential role in the current precious metals bullmark Jeremy your thoughts on this strategy shift. You know what as you were just saying that I was thinking to myself you know countries like Russia and China have been accumulating gold for the better part of 10 years. Imagine how much wealthier those countries are because they've been accumulating. They didn't just start accumulating yesterday. They've been doing it for a decade. All of that gold that they bought a decade ago was trading at $1,100 or less. Now all of a sudden bang it's worth $2,600 plus and going higher. So are they are they dumb? I don't think so. I think they're pretty economically smart if you ask me. And so if they're adding silver to it maybe they're listening to the real money show. Maybe they've been getting their fundamental facts from us. But the fact is is that yeah when you look at the fundamentals on silver whether it's from the industrial side of it or the supply demand factors it's massive. And this is going to be a massive share I think coming up. This Russia's interest in changing the strategy amid all these geopolitical tensions and ahead of the BRIC summit coming up in October 23rd. Put that on your calendars could signal changing attitudes towards silver in global finance. He's going to be sharing the strategy I'm sure. This is while the immediate market impact maybe limited silver's role as a hedge against economic volatility and activity could will grow. And it's going to influence prices, influence demand, and future participation. And I love what we're seeing even when Costco showing platinum bars and Costco now it's it's normalizing. It's normalizing to train for the Western mind. So we don't want to miss the boat. Get on the silver train. Get on the gold train because it's going to change your life. And if you want to own physical gold physical silver and you've never purchased before go to our East or GuildhallPreciousMettles.com. You can pick up a 10 ounce bar of silver. You can pick up a tube of silver maples. You can even set up alerts on the on the system there. There's some great charts too if you go in there and you can get some news. Go to the East or pick up some physical metal. We keep the inventory simple as well. Only LBMA approved product that makes it the highest quality product that's out there and also the most liquid. So go to GuildhallPreciousMettles.com. If you're considering diversifying your retirement portfolio there is no better way to do it than to own actual physical gold and silver that you own directly. Allocated, segregated, held in a vault facility outside the banking system will help you set up the account will help you do a transfer will help you with your purchases and your sales. We're with you all every step of the way. Service is our number one priority for our clients. Give us a call. We'll show you how it works. The numbers one eight seven seven eight silver the website guildhallwealth.com. I know you probably think it's over and we've given you enough information but the best is yet to come. We're going to be talking about the revised forecast in the next segment. Stick with us. It's the real money show on 640 Toronto. Welcome back to the real money show the number one eight seven seven eight silver and the website guildhallwealth.com. I will be your fact checker Jerry but we have some revisions on where where entities out there are seeing physical gold and silver rising. I think if I'm not mistaken Goldman Sachs has raised their their price forecasts for this year as well as 2025. Oh did they ever Goldman Sachs predicts higher gold furthering gold purchases. This was coming on the back of their there even their commodity desk just saying how much demand for silver is just being ramped on the call. The calls that are coming in for silver is just nonstop gold. Goldman Sachs is revising its gold price forecast for early 2025 raising it from twenty seven hundred to twenty nine hundred per Troy ounce. This bullish outlook is based upon the expectations of faster declines in short-term interest rates in Canada and the U.S. and Western countries including China as well as continue to strong purchases from central banks. The investment bank Goldman Sachs cites the gradual boost from lower gold global interest rates structurally higher demand from central banks in gold's role as a hedge against various risks as key factors supporting their long gold recommendation. So basically the Fed pivot means the Fed's throwing in the towel on inflation and therefore you're probably going to need an inflation hedge as the dollar collapses to due to money printing. Best currency hedge out there. There you go. So they're going to go to real money and as people move into real money the price they expect it to move higher. Also I do remember this week Vince Lancy having a piece out about the fact that Goldman Sachs has reconfigured how they're analyzing the gold market that they're now taking into consideration central bank gold buying. Do you want to tell us a little bit about that? They have a report. They reveal their take on if correlations with rates are broken or not. Their conclusion is a golden reset is in progress. This is from Vince Lancy earlier. While the gold price to rates relationship remains intact in changes the secret buyer has elevated prices and reset the relationship in absolute level. State in another way Goldman is saying gold is readjusting its correlation against Western rates as opened in the space for some time. The dollar correlation is not broken. This is what's going on. The Western central banks are losing control. This is going to be a further support for the yellow and even white metal. All right. There's another one, another revision here. We have City Group. The title of the article was are we on our way to $40 silver question? Prices surged 34% year to date. What's City Group talking about? Their research is increasingly bullish. Keep getting more and more revising revisions coming up predicting $35 an ounce by year end and by mid year next year about $40. This optimism again driven by a combination of supply constraints, growing demand, even strikes in Mexico. All these geopolitical issues, industrial demand especially from the solar panel sector as the Silver Institute report solar related silver demand jumped 158%. So when you're adding this type of demand to a finite silver market and not enough silver coming out of the ground year over year, supplies are just dwindling yet as we advance technologically we require more and more of that silver which is why they're jumping on the silver change area. Yeah and look you can try to recycle. You can try to go to above ground stockpiles to fill the void but that eventually you're going to run out and you're going to run out in short order and in the meantime you can't just turn flip a switch and get those mines operational. It's going to take years and the only thing that's going to satisfy the demand at that point is going to be price. How are you going to get people to give up the physical silver that they're holding? How are you going to get that guy to give up 10,000 ounces of silver? The only way you're going to give it up is if the price goes to $300 and then you'll see some physical product coming to market. So in the absence of actual physical supply you need the price and so that's what we believe is going to you're going to see and that's why you could end up seeing the market move very quickly to much higher prices. We are excited about this market. We'd love to talk to people about why the why's in the house of the physical gold and silver market. With Guildhall you can own it direct. You can store it with us. We use Brinks fully allocated, fully segregated. We do the same thing for registered accounts and if you're interested in getting into the market for the first time or maybe buying on a regular basis you can go to our e-store, guildhallpreciousmetals.com and of course you can even set up price alerts and try to get the prices that you're looking for but it's convenient. You can buy while you're on the road stuck in traffic as you know or you can do it from the comfort of your own home. Give us a call. We're happy to talk to you about the market and show you how it works. The number again, 1-8-7-7-8 silver, the website guildhallwell.com. If you've missed a show or you want to pass along the show to someone else you can go to Guildhall Wealth on YouTube or Rumble and share please and of course you can follow us on X. We put out some stuff throughout the week. Jerry, great stuff this week. Thank you my man and thanks to all of our listeners for joining us this week on The Real Money Show on 640 Toronto. The preceding was a paid commercial program unless otherwise identified. The guests on the program are employees of or otherwise represent the advertiser. The opinions expressed therein are those of the advertiser and do not necessarily reflect the views and policies of chorus entertainment. This fall, TV's most buzzworthy drama returns. 911, which emergency? The crew from 911 is back on the scene kicking off with an epic three-part season premiere. The chaos begins when a truck spills its deadly cargo on the highway. A truck was hollering 22 million killer base. Now, a catastrophe of biblical proportions swarms the city. So be NATO. 911, all new, 30 days on Global, stream on Stack TV.