by Mike Gleason, Money Metals:

Welcome to this week’s Market Wrap Podcast, I’m Mike Gleason.

Coming up we’ll hear part 1 of an interview Money Metals President Stefan Gleason gave with Palisades Gold Radio. Stefan talks about sound money and the big inflation scam being run by the Federal Reserve – plus, he provides a detailed inside look at legislative efforts underway at the state level to reaffirm gold and silver as money, remove taxation, and protect investors. So, stick around for this eye-opening interview, coming up after this week’s market update.

TRUTH LIVES on at https://sgtreport.tv/

As President Joe Biden pushed massive new spending initiatives in his address before Congress, investors shrugged off rising inflation risk. They pushed the S&P 500 up to a new record close on Thursday.

Gold, meanwhile, continues to be capped under the $1,800 level – at least for the time being. As of this Friday recording, gold prices check in at $1,778 an ounce after falling a slight 0.3% since last Friday’s close.

Silver shows a slight weekly gain of 0.2% to trade at $26.24 per ounce. Platinum is down 1.4% for the week to come in at $1,233. And finally, palladium continues to be the pace setter in the metals space – adding another 4.5% this week to hit a new record and bring prices to $3,021 an ounce.

As trading closes out for the month of April, precious metals bulls will be hoping for a more fruitful May. Although May is typically a quiet month in markets – not known for producing major crashes or price spikes – it can represent a seasonal turning point.

The old adage, “sell in May and go away” is premised on the stock market entering a seasonally weak period that typically lasts through October.

Last year was a very abnormal year, of course. And this one looks to be atypical as well. With all the fiscal and monetary stimulus still making its way through the economy, seasonal trends in markets could be moot.

A major breakout in gold and silver prices could occur at any time. A short squeeze in the futures markets remains a viable scenario given the still ongoing disconnect between tremendously strong demand for physical bullion and paper selling of futures contracts.

Some online silver investing communities are eyeing May 1st for a massive new buying campaign.

How much buying actually materializes remains to be seen. But with mints struggling to keep up with demand and dealer inventories for popular products including Silver Eagles, silver bars, and silver rounds already stretched thin, another buying surge could have an effect on premiums and availability.

Those who don’t have a particular desire to own American Eagles can still get much better pricing on silver rounds that contain the same .999 purity. We have beautiful designs to choose from at Money Metals Exchange, including the Buffalo and the classic Walking Liberty in the form of privately minted rounds.

Even better pricing is available for Vault Silver – our storage program for customers who don’t want to take personal possession of silver products but still want to directly own the physical metal in their own storage account.

Silver and gold markets are waiting their turn to ride the inflationary wave that has hit so many other markets this year.

Palladium and copper prices are soaring to new heights. The housing market is rising at one of its fastest clips on record as lumber prices go through the roof. Technology companies are grappling with a computer chip shortage. Retailers are struggling with a labor shortage as millions of working-age Americans stay home and collect government benefits.
Read More @ MoneyMetals.com