It'll Happen OVERNIGHT! China & Russia Are About to Change the Gold & Silver Prices - Peter Grandich

As global economic dynamics shift, gold continues demonstrating its enduring value as a safe-haven asset. Recent comments from Federal Reserve Chair Jerome Powell suggesting a potential easing of inflation have led traders to anticipate an interest rate cut as early as September, contributing to gold's recent price stability.
Peter Grandich, a seasoned financial commentator renowned for his expertise in precious metals, forecasts gold to reach 2,536 dollars per ounce shortly. This prediction aligns with gold's historical performance, which has outpaced stocks and bonds since 2000. From 1971 to 2020, gold boasted an impressive average annual return of 10.6%, often surpassing traditional assets, particularly during inflationary periods like the late 1970s and early 1980s.
Grandich's bullish outlook on gold is partly attributed to the growing influence of the BRICS nations and their potential plans for a gold-backed monetary system. This development could significantly reshape global trade dynamics, requiring Western nations to increase their gold reserves to maintain economic partnerships with BRICS countries.
The article "Founders: The BRICS Will Use a Gold Standard" underscores this shift, suggesting that Western nations may need to either accumulate more gold or restructure their supply chains to reduce dependence on BRICS resources. This geopolitical realignment could further bolster gold's position in the global financial system.
Recent data from the World Gold Council supports gold's relative strength in the current economic climate. While yields on US government bonds saw a slight decrease of 0.2%, and global government bonds (excluding the US) experienced an average loss of 5.81%, commodities in the US, including gold, gained 5.83% in value.
US stocks reached new record highs on Wednesday, fueled by Federal Reserve Chair Jerome Powell's testimony to Congress and continued strength in Big Tech shares. Powell's remarks suggested that the central bank is moving closer to cutting interest rates from their two-decade highs, citing moderating inflation and a cooling job market.
The Fed Chair's cautionary note about the potential economic risks of maintaining elevated rates for too long further bolstered investor sentiment, as many have eagerly anticipated a shift in monetary policy. This optimism was reflected in the broader market, with significant indices pushing to fresh all-time highs.
However, not all market observers share this bullish outlook. Peter Grandich expresses a bearish view of the stock market's long-term prospects. While acknowledging the current rally, Grandich is more concerned about a potential 30-50% decline over the next 3-5 years rather than short-term fluctuations.
Adding to these cautionary voices, Morgan Stanley's Chief Investment Officer Mike Wilson predicted in a Bloomberg TV interview that a 10% decline in the S and P 500 before the November US presidential election is "highly likely." This forecast introduces an element of political uncertainty into the market outlook.

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