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[Music] [Applause] welcome to the shift gold Friday gold wrap your overview of this week's precious metals news it's Friday December 30th I'm your host Mike Meharry thanks for tuning in so tomorrow is the last day of 2022. can you believe that I don't know about y'all but this year has just flown by for me anyway as is typical this week between Christmas and New Year's it's been pretty quiet in terms of news not a lot going on in the financial World a lot of people take the week off so I don't have any breaking news to report or anything like that uh I'm gonna be getting into a lot of year in review stuff here in the next month or so but I just wanted to touch on the year for gold real quick before I get into a couple of topics relating to the Fed you know I think the general impression is that gold hasn't done well this year but if you look at it objectively it's certainly fared better than most assets now we still have a day to go but it looks like gold is going to in the year pretty close to the price where it began on December 31st 2021 gold was trading around 1820 an ounce and will most likely close out today pretty close to that number I'd say within 20 bucks or so now given inflation I can certainly understand that a lot of people are disappointed in what was basically a sideways trade on the year but compared to most assets you were much better off holding gold pretty much everything else with the exception of some other Commodities dropped through the floor this year I mean stocks crashed bonds crashed crypto crashed so if you had gold in your portfolio it's certainly served as a hedge uh you know you didn't come out ahead but you didn't lose ground as you did with so many other assets now looking ahead I think gold is going to do much better in 2023 at whatever point the FED stops raising interest rates and obviously it's going to stop at some point gold is going to shoot up that's what's been holding gold back right every time we we hear about the FED raising rates uh you know being more aggressive in the inflation fight than gold uh faces headwinds and it tends to sell off so when we actually see the FED slowing down stopping interest rate hikes I think we will see gold regain momentum and if something breaks in the economy forcing the FED to Pivot meaning we see interest rate Cuts we see quantitative easing back in play I think Gold's gonna go through the roof now as I talked about last week I'm certain at some point something is going to break and we're going to see this pivot and we're going to see gold go through the roof but I'm not...