Gold "Dead" Peter Schiff recently talked about gold in "Commodity Culture" podcasts.He said that although Gold performed relatively well in the huge backwind this Breaking newsyear, it was nothing at all.Once the market realizes that inflation will continue, gold will fly to the sky.
Although the price of gold has been rising slowly, especially in the past few months, Peter acknowledged that he believes that the price of gold will rise higher, and he is still optimistic about gold."I still think that it will prove that my judgment on the rise in gold is correct. It only takes longer to achieve this goal."
He is still optimistic,The price of gold soon will turn a few times a yearEssence"As for 2024, 2025 or 2026, no one knows, but I think it is coming."
Peter said that people have misunderstood the performance of gold in the current economic environment.
Gold reached a record high in early December, but it did not fly as much as many people hoped.Just a few days later, gold had a lot of gains.Although gold once fell below $ 2,000 per ounce, it quickly returned to this level.
Peter said: "I think this is the new support point of gold now & mdash; & mdash; about $ 2,000. This was the highest record. Therefore, we have established support near the huge resistance in the past. This is a one.Technical factors that are very viewedEssence"
He also pointed out that despite facing major adverse factors, gold performed relatively well in 2023."These are the disadvantages that should not be existed, but this is related to people's views. At that time, the view that interest rate hikes would be very unfavorable to gold. As long as the actual interest rate rises, as long as it is true, it should be empty."
Now, the Fed has actually ended the tightening cycle, but gold remains at a level of $ 2,000.Peter said: "If gold can be so good in the interest rate hike environment, it can be imagined that if the interest rate decreases, how good the gold will perform. I think that gold will accelerate the inflation but the Fed will not cooperateIt really flourish. "
Peter said that this would sound an alarm for investors.The Fed will overwhelmed the belief in inflation at all costs to suppress the price of gold.The market believes that the Fed can successfully restore price inflation to 2%and maintain this level.But Peter called it "fantasy.""This is impossible, the market has not yet accepted this," he said.
As Peter explained, in the past two years, any bad news in inflation is not good for gold. In fact, rising inflation should have been beneficial to gold because gold can hedge inflation.He said: "If inflation is a bigger problem, the demand for hedging should be greater." However, the facts are just that investors just think that it will promote the Federal Reserve to raise interest rates.Each hot CPI report will make people even more believe that the Fed will maintain higher interest rates in a longer period of time, which will damage gold and boost the US dollar.
But Peter said that higher inflation numbers do not mean that the Fed must strive more hard to win, but it meansThe Federal Reserve has lost, inflation has wonEssence