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Fed Recommits to Propping Up Markets No Matter What – Michael Pento

by Mike Gleason, Money Metals:

Coming up we’ll hear from Michael Pento of Pento Portfolio Strategies and author of the book The Coming Bond Market Collapse: How to Survive the Demise of the U.S. Debt Market. Michael explains who’s behind the latest stock market rally, the truth about the economy’s health despite what the labor and payroll reports are telling us, and how he views gold as a must-have asset in the current and future environment. Don’t miss an exclusive interview with Michael Pento – coming up after this week’s market udpate.

Precious metals markets moved lower this week ahead of Janet Yellen’s Jackson Hole speech. But metals popped after Yellen opened her mouth this morning, and gold prices are now only down 0.8% on the week to come in at $1,333 an ounce. Silver, also rallying today after falling farther than gold earlier in the week. With this morning’s rebound, the white metal now shows a weekly decline of 2.5% to bring spot prices to $18.90.

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