Gold Mining Poised for Decade’s Best Performance, Peter Schiff Predicts ‘Major Bull Market
Economist Peter Schiff predicts that precious metals mining will be the best-performing sector this decade, citing a major bull market ahead.
He views gold mining stocks as undervalued and expects significant gains even if gold prices stabilize at their current record high of over $2,530. Schiff noted that gold mining ETFs, such as GDX and GDXJ, are showing strong performance, with many stocks hitting new 52-week highs. He also cautioned that the Federal Reserve risks making a policy mistake by cutting interest rates too soon, which could exacerbate existing market issues.
Clever Robot News Desk 22nd August 2024
