$3000 Gold & $50 Silver! BRICS Are About to Change Gold & Silver Prices FOREVER - Peter Grandich
According to precious metals strategists at MKS PAMP, based on historical trends and regular seasonal performance, precious metals may be significantly underpriced in the second half of the year.
In their Precious Metals Seasonal Report released on July 3, the company's strategists emphasized the importance of a nuanced understanding of seasonal trends for metals investors. They noted that, on average, the second-half performances of Gold, Silver, Platinum, Palladium, and Copper tend to be more bullish than those in the first half of the year.
Peter Grandich, the former Head of Investment Strategy for a leading New York Stock Exchange, predicts that BRICS actions will drive gold and silver with a strong long-term outlook. Based on his analysis, Grandich states the fundamental argument for silver has dramatically improved due to increased industrial usage and a bullish supply and demand scenario. He expresses that silver should be considered equally alongside gold. Industrial demand for silver set a record of 654.4 million ounces in 2023, and it is expected to hit new highs this year. According to the Silver Institute, ongoing structural gains from green economy applications underpinned this surge in silver demand.
Despite the current market scenario, Grandich is surprised that many people are unaware that gold has outperformed stocks since the start of the new millennium.
Regarding the current state of mining shares, Grandich mentions that the idea that owning mining shares is like owning gold is no longer true. He predicts that mining companies will face increased challenges in reaching investors and operating in various regions, making it harder to achieve significant gains. Since 1968, the historical trend shows that gold mining stocks have continuously declined relative to gold bullion, marking a persistent downward trend spanning 55 years and counting.
During the interview, Peter Grandich highlighted the pressing issue of mounting debt and deficits, which pose a looming threat to the US's ability to sustain its financial responsibilities soon. Debt burdens have grown so large, in part because of the cost of the pandemic, that they now pose a growing threat to living standards even in rich economies, including the United States.
According to a recent report released by the US Congressional Budget Office (CBO), the US publicly held debt to GDP ratio is projected to surge from 97 percent in 2023 to 107 percent by the end of 2029, exceeding the historical peak just after World War II.
Highlighting the BRICS nations' influence, Grandich underscores their collective economic actions as pivotal in reshaping global financial dynamics. He cautions that neglecting issues like mounting debt, retirement crises, and governmental policies could lead to substantial economic misunderstandings, particularly regarding the escalating influence of the BRICS countries on international trade and finance.
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