MARK MY WORDS! Gold's About to Be the BIGGEST BREAKOUT STORY In History - Peter Schiff

MARK MY WORDS! Gold's About to Be the BIGGEST BREAKOUT STORY In History - Peter Schiff

In a remarkable display of market strength, gold has emerged as a standout performer in 2024, rising 28% through November. Prices are around 2,611 dollars after nearing 2,800 dollars. This strong performance has attracted attention, particularly from economist Peter Schiff, who has long been bearish on traditional markets and supportive of gold investment.
Peter Schiff emphasizes that gold has demonstrated superior performance to stocks since 2000. His analysis points to recent market consolidation, with gold prices settling in the 2,620-dollar to 2,630-dollar range after approaching 2,800 dollars before the election. The price movements remain stable at around 2,611 dollars as markets digest the current outlook on U.S. interest rates.
The U.S. Dollar's strength persists, bolstered by expectations that the Federal Reserve will adopt a more measured approach to rate cuts. Projections indicate a federal funds rate of 3.9% by the end of 2025.
Despite gold already achieving record highs and approaching 2,800 dollars per ounce, market sentiment remains bullish. Multiple analysts project potential gains extending to 3,000 dollars per ounce before year's end.
Peter Schiff points out a market anomaly: despite gold surging nearly 30% in 2024, major gold mining companies like Newmont and Barrick have seen their stocks fall about 35%, seven times gold's 7% correction. Schiff describes this divergence as "ridiculous," highlighting that gold stocks underperform despite gold's 46.8% gain over the past year.
The exceptional performance in the gold market has been sustained by robust central bank purchasing and steady investor demand, which has compensated for softer consumer buying patterns. Asian investors have maintained active market participation, while reduced yields and a weakening U.S. dollar during the third quarter have stimulated Western investment interest. Looking ahead to 2025, market consensus regarding GDP, yields, and inflation suggests continued growth for gold, albeit at a more moderate pace.
Peter Schiff predicts stagflation in the U.S., warning that the Federal Reserve's return to quantitative easing will lead to a weaker economy and rising inflation, a scenario markets are not ready for. He also expects a sharp dollar decline and a significant inflation surge.
However, current economic indicators paint a different picture from the stagflation experienced in previous decades. The U.S. economy has shown resilience, with projections indicating annual growth exceeding 2% in 2024. Additionally, inflation has demonstrated a marked decline over the past two years, currently hovering just above the Federal Reserve's 2% target. These conditions starkly contrast to the economic environment that characterized historical stagflation periods.
The specter of stagflation brings back memories of 1981 when the U.S. last experienced comparable inflation levels. During that period, escalating prices and economic weakness created widespread financial difficulties for American households. Central bankers faced a challenging policy dilemma: raising interest rates to combat inflation risked pushing the already weak economy into recession. Lowering rates to stimulate economic activity could further fuel inflation.

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[MasonBilli-bc]

Great analysis, thank you! I need some advice: My OKX wallet holds some USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). Could you explain how to move them to Binance?

[colheath]

Good work Pete. Marc F only recons 29x - yr the man.

[watsondavis]

😢Guess you missed BTC breaking out in 2024.😅

[garygordon]

So you’re another prognosticator? So which crystal ball do you use to give us all this BS? I can see that you and others on YouTube spew this nonsense to hype up your agenda to help increase your subscribers. Tell me when my investments in gold and silver will increase or decrease. But be honest.

[DylanRoss]

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