Gold's About to Shock Us All! Prepare for BIGGEST Gold & Silver Rally in 50 Years - Peter Schiff
Gold's About to Shock Us All! Prepare for BIGGEST Gold & Silver Rally in 50 Years - Peter Schiff
Once Gold breaks out against the 60/40 portfolio and Silver makes a new all-time high, the current secular bull market will fully align with the one in the 1970s. The setup is for spectacular gains in precious metals over three to four years. The potential gains should surpass those seen in the 2000s from periods like 2005 to 2007 and 2008 to 2011.
Some research sets the upside for gold prices at levels as high as 3,000 dollars per ounce, which would represent an increase of more than 25% from current levels.
Precious metals dealer and independent investment advisor Peter Schiff believes Gold's upward momentum is just beginning, with prices nearing 2,700 dollars and up 30% this year. He contrasts today's market with 1980, noting that while high rates ended that bull run, the Fed's current rate cuts will likely push Gold even higher. At the start of the month, investors were warned that September has historically been a challenging period for the precious metals market; however, it seems clear that this year's seasonal trend has been broken.
Regarding Gold's future, Peter predicts it could see a sixfold rise, similar to its climb from 2001 to 2011, potentially reaching 20,000 dollars per ounce. He also forecasts a dollar collapse next year, pushing gold prices further upward. There is a chance that the United States, based on the sudden decision of the US Fed Reserve to introduce interest rate cuts in order to combat inflation, could also face a major dollar crisis in the incoming weeks, as major market factors are pushing the economy into a crisis.
While analyzing the market, Peter highlights that the GDP is inflated by borrowed money, not real growth. With Gold going up, he predicts it signals deeper economic issues.
In his assessment, Peter Schiff suggests that the Federal Reserve's early rate cuts reflect growing desperation, especially with Gold hitting record highs. He anticipates inflation will spike again, driven by rising oil prices, pushing it beyond 9% in 2025. According to the CME FedWatch Tool, market analysts are increasingly factoring in a 51% chance of another 50-basis-point rate cut in November.
Although Gold pulled back from its peak, the precious metal is poised for weekly gains, supported by growing expectations of further US interest rate cuts. The Federal Reserve's recent decision to lower rates by an aggressive 0.5% helped fuel a surge in Gold, which has gained 1.8% so far this week. Anticipation for another cut later this year continues to provide strong tailwinds.
According to him, the national debt is rising unsustainably, with interest payments now exceeding 1 trillion dollars annually. He predicts that rising Treasury yields will force the Fed to resume quantitative easing by early next year.
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