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| Name | 500% Increase in GOLD Prices! Gold & SILVER Are Going to Hit Massive Bullish Momentum - Peter Schiff |
| Video Uploader | Video From Money Sense |
| Upload Date | This Video Uploaded At 04-03-2024 21:00:16 |
| Video Discription | 500% Increase in GOLD Prices! Gold & SILVER Are Going to Hit Massive Bullish Momentum - Peter Schiff The gold market is excited as prices soar to new heights, inching closer to a significant milestone of 2,100 dollars per ounce, thus setting up a potentially game-changing week filled with substantial macroeconomic risks. The market is experiencing its most impressive weekly gains since November, achieving a record-high close and displaying over a 2% increase from the previous week. The surge began on Thursday as prices surpassed the initial resistance level of 2,050 dollars an ounce following a Federal Reserve report indicating a mild increase in consumer prices. Peter Schiff, a prominent American stockbroker, is confident that gold will experience a substantial rise in value due to inflation rates exceeding expectations. He believes that if inflation worsens, the Federal Reserve will intensify its efforts to mitigate it, which is favorable for gold prices since it implies the Fed has essentially surrendered in its battle against inflation. However, some analysts caution that gold could face a critical test next week with the release of February's nonfarm payrolls report and Federal Reserve Chair Jerome Powell's testimony before Congress. These events will undoubtedly influence market sentiments and could alter the course of gold prices. Despite the optimism, not all analysts are convinced that gold's upward trajectory will persist, even as the week closes with significant momentum. Nicky Shiels, the head of metals strategy at MKS PAMP, posits that gold's recent surge could be attributed to a prolonged period of consolidation. She asserts that momentum may drive gold prices higher, but the fundamental economic picture remains unchanged. Peter Schiff emphasizes the recent rise in the Personal Consumption Expenditures index, which was expected to remain stable at 2.8% but unexpectedly rose to 3%. He views this as indicating increasing inflation rather than following the anticipated decline to 2%. This suggests a potential uptick in inflation rates, further supporting the case for higher gold prices. Peter Schiff observes a noteworthy trend among investors, many of whom have been divesting their gold stocks in favor of investing in Bitcoin ETFs. However, he suggests that this tide could turn if gold prices ascend again. According to André Dragosch, the Head of Research at ETC Group, there is a growing divergence in global fund flows, with increasing investment in Bitcoin compared to gold. Dragosch believes this could be an early indication that Bitcoin could supplant gold as the primary store of value. ETF.com data from Jan. 11 to Feb. 14 reveals a considerable outflow from gold ETFs. Approximately 2.6 billion dollars was withdrawn from the SPDR Gold Shares, which had assets under management of 58 billion dollars at the start of 2024. Similarly, the iShares Gold Trust, which had 26 billion dollars in AUM at the beginning of the year, saw approximately 507 million dollars in outflows. These figures indicate a notable shift in investment sentiment away from gold ETFs. Follow on X: https://twitter.com/MoneySense_Off "Welcome to our channel dedicated to gold and silver investing! In this video, we provide expert insights and analysis on the latest trends in the gold and silver market. Discover strategies for investing in precious metals, including gold and silver bullion, coins, and jewelry. Stay updated with real-time price updates and market news, and learn how to diversify your portfolio with gold and silver. Whether you're a beginner or an experienced investor, our channel offers valuable tips and guidance to navigate the world of precious metals. Subscribe now for in-depth analysis, historical data, market forecasts, and more. Join our community of gold and silver enthusiasts and unlock the potential of these timeless assets. #GoldAndSilverInvesting #PreciousMetalsChannel #InvestingTips" We bring you the latest news, insights, and analysis on gold, silver, and copper. Our videos cover a wide range of topics, including gold price, gold prediction, gold price forecast, silver price, silver price prediction, copper price, market trends, investment strategies, and industry news. We share interviews from experts like Rick Rule, Peter Schiff, Mike Maloney, Lynette Zang, and many others. Stay up-to-date with the world of finance and make informed decisions with our expert insights. Subscribe now and never miss a video! #gold #goldpriceprediction #peterschiff |
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