Peter Schiff Predicts Early Stages of a Strong Gold Bull Market
Economist Peter Schiff emphasized that gold’s 2024 rally is only the beginning of a major bull market, with prices recently closing at a record high of $2,775—putting gold on track for its best year since 1979.
Schiff highlighted key differences from 1979’s inflation-fueled gold surge, noting that today’s inflation levels are low, and supportive factors like economic uncertainty, central bank purchases, and geopolitical risks are now driving demand.
With anticipated Federal Reserve rate cuts and rising budget deficits, Schiff predicts further gains for gold, which he believes could reach $26,000 or even $100,000 long-term. Schiff’s outlook calls this the “mother of all gold bull markets,” as he encourages investors to recognize the growing potential of gold and mining stocks.
Clever Robot News Desk 31th October 2024