Gold Standard 2.0 Is FINALLY HAPPENING! Gold & Silver Prices Will Soar - Peter Schiff
In this video, Peter Schiff provides an in-depth analysis of the recent stock market rally and the performance of precious metals. Despite a weak economy, Wall Street continues to thrive, with the S&P 500 and Nasdaq reaching new all-time highs, driven primarily by big tech. The Nasdaq was up 2.8% for the week, and the Triple Qs, representing the largest Nasdaq stocks, saw a 3% increase. The S&P 500 also hit record territory, rising 1.3% for the week, while the Dow Jones climbed 0.78%. Only the Russell 2000, which includes more economically sensitive small-cap stocks, ended the week down.
Schiff explains the dynamics behind this trend, emphasizing how investors are banking on future rate cuts to boost tech stock valuations. He also highlights the strong performance of gold, which closed just below $2,400, and silver, which saw significant gains. Gold mining stocks had an impressive week as well, with the GDX index rising 5.3% and the GDXJ, representing junior gold miners, increasing by 5.85%.
Despite these gains, Schiff believes that gold mining stocks are still undervalued and predicts better-than-expected earnings for gold mining companies due to sustained high gold prices. He recommends investing in these stocks through individual selection or by using his company, Euro Pacific Asset Management, which offers a gold fund managed by Adrian Day. This fund is available at major brokerage firms like Schwab and Fidelity.
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