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Peter’s Podcast

POSTED ON August 19, 2020  - POSTED IN Peter's Podcast

Gold rallied back above $2,000 on Tuesday (Aug. 18) driven in part by Warren Buffett’s sudden interest in the yellow metal.

Peter Schiff talked about gold’s rally and the weakness of the dollar on his podcast and focused on the lack of financial media coverage of Buffett’s purchase of Barrick Gold. Of course, they mentioned it, but they didn’t really delve into the significant questions raised by Berkshire Hathaway’s move into gold mining stocks. In effect, Buffett sold banks and bought Barrick Gold.

He basically reduced his bets on banks and made a brand new bet on gold, which is, in effect, a bet against the US, against the dollar, pro-gold.”

POSTED ON August 17, 2020  - POSTED IN Peter's Podcast

Warren Buffet has bought into gold.

Gold mining to be specific. Peter Schiff talked about what Buffett is telling us in his podcast.

According to the latest 13F filing by Berkshire Hathaway, the company now has positions in Barrick Gold to the tune of over $500 million. This was as of the end of June. Peter said he suspects Berkshire Hathaway has a lot more shares now.

POSTED ON August 12, 2020  - POSTED IN Peter's Podcast

Gold and silver got pummeled on Tuesday. The price of gold dropped more than 5%, falling far below the $2,000 level. It was the worst single-day rout in seven years. Gold continued to fall in Asian trading Wednesday morning and briefly dropped below $1,900 before clawing back later in the session. Silver also had a precipitous fall, diving some 13%.

Peter Schiff talked about the sell-off during his podcast. He said we shouldn’t lose sight of the fundamentals and they’re still bullish for gold. The Fed isn’t about to stop printing money and inflation is going to win.

POSTED ON August 10, 2020  - POSTED IN Peter's Podcast

Last week was a big week for precious metals. Gold broke above $2,000 an ounce and kept climbing, pushing over $2,075 later in the week. Meanwhile, silver blew through $28 and $29 ounce on Thursday and knocked on the door of $30. But even with another week of solid gains, there still seems to be a lot of skepticism about precious metals. Peter talked about gold’s bull run on his podcast and said it’s the most unloved gold bull market he’s seen in his entire career.

POSTED ON August 5, 2020  - POSTED IN Peter's Podcast

Gold reached a new milestone Tuesday, breaking above $2,000 for the first time ever. The yellow metal closed just above $2,017 an ounce. Peter talked about gold’s new record high and what it’s telling us in his latest podcast. He says most people still don’t really understand the significance of $2,000 gold.

Peter noted that when gold first peaked its head above $2,000, it immediately sold off. He said that kind of nervousness is exactly what he wants to see in a gold bull market.

POSTED ON July 29, 2020  - POSTED IN Peter's Podcast

Gold has rallied above its previous all-time record high this week. But can it sustain this bull run? Peter Schiff thinks it can and will.

It’s not about the coronavirus, as many mainstream analysts seem to think. It’s the government and central bank response to the pandemic — the borrowing, the spending, and the money printing. Peter believes that ultimately the Fed’s monetary policy is going to collapse the dollar and it will lose its reserve status. In this podcast, he talked about what this portends. He also explained why he doesn’t think the Fed can kick the can down the road again.

POSTED ON July 9, 2020  - POSTED IN Peter's Podcast

Gold has pierced another significant level, pushing above $1,800 an ounce on Wednesday. That’s the highest spot price for gold since 2011.

Breaking through $1,800 was a significant move for the yellow metal, but during his podcast earlier this week – before gold breached that level – Peter Schiff said he thinks gold has a long way to run up, and he explained why the dynamics are different now than the last time gold was above $1,800.

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