This Is My Warning to You All! Hold Your Gold & Silver Until THIS Happens – Peter Schiff

This Is My Warning to You All! Hold Your Gold & Silver Until THIS Happens – Peter Schiff

I just don’t really see any real resistance to the price of gold going higher you’re in New Territory you’re at record highs we’ve just broken out of a 10 12 year resistance uh we should just keep going up and up and up and the gold stocks haven’t even priced any of this in I think they will do it violently there will be a a very rapid Readjustment of price and then you know you’ll still be able to buy them I’ve never had a bigger position in gold mining stocks than the one I have right now and I’m extremely comfortable with it you know I I’ve been bullish on stocks before obviously you’ve been following me you know that I don’t know that I’ve ever been as bullish as I am now andan I’ve been bullish right so it’s not like I I wasn’t and you know I you know I I should have sold some of these stocks and taken profits I didn’t the US GDP report released on Thursday showed a sharp deceleration in economic growth and stubborn inflation which in turn is seen as a key factor lending support to the gold price for the past two decades gold stocks have underperformed on the upside and suffered more significant decline the downside disappointing investors expectations however the latest earning season for gold stocks is promising with companies expected to report their most profitable quarter in years fueled by higher gold prices additionally most miners have forecasted Cost Containment measures which should further boost earnings alongside Gold’s surge renowned American stock broker and Financial commentator Peter Schiff remains steadfast in his optimism for gold noting its resilience despite recent Market volatility despite the news leading to reduced rate cut expectations and a decline in the Dollar’s value shiff predicts a significant upward movement for gold towards $2,400 this bullish sentiment is supported by the positive response from miners to Rising gold prices as the precious metal gains traction climbing 0 7% to $2,330 per ounce boyed by escalating stagflationary worries triggered by the latest gross domestic product report regarding market dynamics Peter highlights the resilience shown by mining stocks particularly citing numont mining’s impressive earnings beat which led to a substantial increase in its stock price numont has been on track to achieve its best performing session since April 2020 when the mining giant rallied following a major volatility event due to the co9 pandemic Newmont Corporation participated in the Resurgence of precious metals on Thursday when they reported that gold sales and production Rose more than 30% year-over-year in the first quarter and the stock rallied from a technical perspective Peter questions all Street analyst’s downgrade of Newmont mining at a low Point only to see it soar afterward now we present the clips of Peter schiff’s insights from his recent video before we continue to delve into this discussion please subscribe to our Channel and activate the Bell icon for timely updates the interesting thing was even though this uh bad news came out on um stagflation which of course immediately meant that the markets dialed back their expectations for rate cuts the sold off yesterday pretty much across the board uh and gold uh was was up a bit although gold was down on the week I mean goal was down almost 2% it was down about 4% on the week because we had a big drop on Monday go was down like $6 I think the reason that go got clobbered on Monday after closing Friday at the highest close ever for a week was that the weekend went by and there was no hostilities in the Middle East and I think because nothing happened happened some people who might have bought gold as an insurance policy in case something happened they sold we had a sharp correction uh and gold dumped uh I think we shook out a lot of weak uh short-term speculators but 2300 held pretty firm and I think 2300 is the new 2000 I think that’s really where the support is right now the resistance is just above 2400 so I think we’re in a narrow range until we take out the highs which I don’t think the highs are going to last much longer and I think a good indication of that is the relative strength that we had in the mining stocks we finally had mining stocks going up um with gold going down and that’s generally a good sign when gold is corrected which we had the whole correction in one day but you know sharp but when you see gold going down but the gold stocks not it means that the selling in the miners is kind of washed out and now they’re actually starting to buy the min and one of the big reasons that these mining stocks are going way up is Newmont mining came out with an earnings beat yesterday and at one point during the day Newmont was up about 15% you know one of the biggest moves I’ve seen certainly that I can remember seeing in in new Mount mining which is the largest gold company there is and it was up 15% it didn’t even hit a new 52e High I mean that’s how much the stock got beaten up this year in fact we’re still long way the 52e high in Newmont is over $50 and we’re at 42 so despite that big move but more significantly we’re up at that about 50% from where numont was in February couple months ago two months ago and on this podcast I talked about that that’s when Newmont got downgraded from a a buy to a hold which is the Wall Street you know slang for sale right if an analyst downgrades something to a hold he means sell it they just don’t like to say I mean sell is a four-letter word on Wall Street they they W rarely mention it right but they will tell you to hold you’re supposed to read between the lines and so this guy was telling you this is an analyst right this is his job to analyze gold stocks and so he watches Newmont mining go way down you know from 50 bucks to below $30 or 30 you know about 30 then he decides to say you know what I don’t think you should buy it anymore let’s just sell it and his rationale for recommending selling on the low was that he didn’t see much upside for gold which was at around 2,000 and I was on this podcast saying this is ridiculous I bought new mon from my own account that day and I bought it from my own account the next couple of days because it kept going down a little bit I just kept buying more um I thought this was a gift and now here’s the stock 50% higher you know than it was on that day and I remember when I read the report the guy said that if gold went up and their Outlook changed that they would revisit this and maybe put it back on a buy and my point was well what’s the point of that because by the time gold goes up and you raise it back to a buy the price is going to be a lot higher and of course the price is a lot higher and they still haven’t put a Buy on it so how much higher is it going to go before this analyst tells people who sold it at 30 to buy it back maybe 60 70 I don’t know but why does this guy even have a job I mean all he does is analyze gold stocks and he does this bad a job uh but you know this is generally what happens and I and I said at the time this was a great sign that Wall Street is throwing in the towel on the biggest mining company there is and now it’s had uh this huge gain in fact there’s not that many stocks that have done as well forget about gold stocks there’s not many stocks in the S&P or the NASDAQ that have done as well as Newmont since Wall Street put a sell on it during the interview Peter Schiff delved into the intricacies of inflation targets while expressing skepticism about the federal reserve’s 2% inflation Target concurrently he suggested it was introduced to justify expansionary measures like QE and low interest rates when inflation fell below 2% Friday’s report from the government showed that Prices rose 0.3% from February to March the same as in the previous month it was the third straight month that the index has run at a pace faster than is consistent with the fed’s 2% inflation Target measured from a year earlier prices were up 2.7% in March from a 2.5% annual rise in February meanwhile gold has historically thrived as a scarce durable asset with intrinsic value and its price rise amid inflation isn’t solely due to its Safe Haven status in Peter’s view sticking to the 2% Target could spell trouble if inflation surpasses it creating a mismatch between policymakers goals and economic reality this discrepancy could pave a challenging path ahead let’s get back to the interview now also on the stagflation we got the core we got the pce which was supposed to be up 2.6 on the uh the year-over-year was up 2.7% so again headed further away from the fed’s 2% goal the prior month it was at 2.5 so if you’re going from 2.5 to 2.7 how can the FED have any confidence that we’re drifting down to 2% when we’re actually rising in the opposite direction and the core year-over-year was up 2.8 which was better than the 2.7 or higher than what they expected but it matched the 2.8 from the prior month but 2.8 is a hell of a lot closer to three than it is to two uh now the month over Monon numbers were in line up point3 on both the the headline and the core the reason the numbers were hotter was because of the Visions to the earlier months but still going in the wrong direction but you know one thing that’s interesting and I actually pose this question on X earlier today the 2% inflation Target wasn’t invented by the FED until inflation was below 2% so for years during the 1960s and 1970s and 1980s and 1990s and even the 2000s up until 08 right the FED never announced that it had a 2% inflation Target well because inflation was above 2% so they didn’t want to have a 2% Target when inflation was three or four because they didn’t want to do anything to actually lower the rate all of a sudden inflation is like one and a half 1 point1 and out of nowhere all of a sudden the FED says our Target is 2% why nobody asks right how did this happened Congress never called a fed and said hey you know we want you to Target 2% all of a sudden the FED just invented this 2% Target the only reason they did that was because inflation was lower than 2% when it was above 2% they never wanted that Target it was only when they were below now why it was a convenient excuse to create inflation because they wanted to print money they wanted to stimulate the economy with QE and artificially low interest rates so they made up this pretense that well you know we need 2% inflation that’s our Target and godamn it we’re only at 1% that’s really terrible this is really dangerous territory here we’re Skating close to the to the edge you know because we could slip into the dreaded deflation when we’re this close to you know deflation here so it was only because inflation was below 2% that they had a Target so now we’re back above 2% inflation and now they’re kind of stuck with that Target right it’s like an albatross around their necks they’re never going to get it back down there because they never were able to get it back down there they never even had the guts to try and so now they’ve just kind of painted themselves in a box now maybe at some point they’re hoping people will forget about this 2% inflation Target because they’re not going to hit it right it was only the target when they were below it and it wasn’t really a Target it was an excuse they wanted to create more inflation and so they use this phony 2% Target as a rationale for doing it but again I pointed out on this podcast where that came from it came from the Central Bank of New Zealand The Reserve Bank which had a % ceiling it wasn’t a Target and it wasn’t like you know try to get as close to the ceiling as possible without going over like it wasn’t the Price Is Right the reason there was a ceiling it was like try to stay a far as far away from it as possible so if inflation was one they didn’t try to get closer to two they were glad they were at one and not one and a half right so the lower the better the idea was just don’t let it get as high as two even if it was a negative number that was that was okay so we we took that and we we turned it into this ridiculous Target to justify an inflationary policy and now we are paying the consequences of that inflationary policy FX Empire reports that the monthly gold chart has validated a significant breakout fueling speculation that prices could reach $3,000 by 2024 looking ahead projections indicate that by 2030 gold prices May surpass $8,000 given what we’ve discussed what do you reckon about the future of gold and gold mining stocks are you feeling bullish cautious or somewhere in between drop your thoughts in the comment section below if you find this video informative don’t forget to support our Channel and turn on notifications to stay informed about our latest videos see you in the next video

This Is My Warning to You All! Hold Your Gold & Silver Until THIS Happens – Peter Schiff

The US GDP report released on Thursday showed a sharp deceleration in economic growth and stubborn inflation, which, in turn, is seen as a key factor lending support to the Gold price.
For the past two decades, gold stocks have underperformed Gold on the upside and suffered more significant declines on the downside, disappointing investors’ expectations. However, the latest earnings season for gold stocks is promising, with companies expected to report their most profitable quarter in years, fueled by higher gold prices. Additionally, most miners have forecasted cost containment measures, which should further boost earnings alongside Gold’s surge.
Renowned American stockbroker and financial commentator Peter Schiff remains steadfast in his optimism for Gold, noting its resilience despite recent market volatility. Despite the news leading to reduced rate cut expectations and a decline in the dollar’s value, Schiff predicts a significant upward movement for Gold towards 2400 dollars. This bullish sentiment is supported by the positive response from miners to rising gold prices as the precious metal gains traction, climbing 0.7% to 2,330 dollars per ounce, buoyed by escalating stagflationary worries triggered by the latest gross domestic product report.
Regarding market dynamics, Peter highlights the resilience shown by mining stocks, particularly citing Newmont Mining’s impressive earnings beat, which led to a substantial increase in its stock price. Newmont has been on track to achieve its best-performing session since April 2020, when the mining giant rallied following a major volatility event due to the COVID-19 pandemic.
Newmont Corporation participated in the resurgence of precious metals on Thursday when they reported that gold sales and production rose more than 30% Y/Y in the first quarter, and the stock rallied. From a technical perspective, Peter questions a Wall Street analyst’s downgrade of Newmont Mining at a low point, only to see it soar afterward.
During the interview, Peter Schiff delved into the intricacies of inflation targets while expressing skepticism about the Federal Reserve’s 2% inflation target. Concurrently, he suggested it was introduced to justify expansionary measures like QE and low-interest rates when inflation fell below 2%. Friday’s report from the government showed that prices rose 0.3% from February to March, the same as in the previous month. It was the third straight month that the index has run at a pace faster than is consistent with the Fed’s 2% inflation target. Measured from a year earlier, prices were up 2.7% in March, from a 2.5% annual rise in February.
Meanwhile, Gold has historically thrived as a scarce, durable asset with intrinsic value, and its price rise amid inflation isn’t solely due to its safe-haven status. In Peter’s view, sticking to the 2% target could spell trouble if inflation surpasses it, creating a mismatch between policymakers’ goals and economic reality. This discrepancy could pave a challenging path ahead.

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