It'll Happen OVERNIGHT! What's Coming for Gold & Silver Prices Will SHOCK THE WORLD - Andy Schectman

Some modest selling pressure in the US dollar is helping gold and silver prices find their footing at the start of the week, following robust volatility last week. On Monday, the Bank of America put out a note suggesting that gold could hit 3,000 dollars an ounce over the next 12 to 18 months. The lender said the key is investment demand.
Andy Schectman, President of Miles Franklin Precious Metals, argues that countries increasingly turn to gold as they move away from US Treasuries. He predicts this trend will continue, likening it to a new era similar to Bretton Woods 3, centered on commodities. Based on his observations, Schectman notes that gold has now replaced the euro as the second-largest asset held by central banks, with an 18% allocation. According to Andy Schectman, gold, silver, and commodities are replacing traditional assets, which will drive their prices much higher than what Bank of America and JP Morgan predicted. Experts have said that demand from central banks and retail investors, geopolitical uncertainties, persistent inflation, and the anticipation of interest rate cuts support a positive outlook for gold in the second half of the year.
Regarding the official 3% CPI figure, Schectman distrusts it, noting that real-world prices show a different story. He sees the inflation narrative as politically motivated and questions how the government will manage escalating debt, suggesting true inflation will soon make a 2% target unrealistic. Gold prices rose 1% on Thursday from an over two-week low hit in the previous session as the dollar softened, with the market spotlight on key US inflation data for more cues on the Federal Reserve's interest rate path.
Making gold more attractive for other currency holders, the dollar weakened 0.3% against a basket of currencies, while benchmark 10-year yields fell to 4.2845%.
Regarding the US's increasing debt and fiscal disorder, Andy Schectman mentions that gold and silver will rise significantly. He predicts that all tax revenue will soon go towards entitlements and debt interest, leaving no funds for the military, highlighting the need for stable alternatives like gold and silver. Since 2020, debt-to-GDP levels have been higher than ever since the late 1940s. At 28.2 trillion dollars, the total federal debt held by the public is projected to be 99% of GDP by the end of 2024.
Furthermore, Schectman emphasizes that the US fiscal challenges will lead to a push for precious metals. He predicts that current estimates are too low as foreign interest in US Treasuries declines and the desirability of these assets decreases.

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