Contact us
CALL US NOW 1-888-GOLD-160
(1-888-465-3160)

CME Group CEO: Gold Extremely Undervalued; Should Be $5,000 to $6,000 Per Ounce (Video)

  by    0   0

In his Gold Videocast last week, Peter Schiff made the case that silver is extremely undervalued, especially when compared with gold.

In a recent interview with Neil Cavuto on Fox Business, CME Group Chairman Terry Duffy says gold is undervalued as well. He said he believes realistically, gold should be at $5,000 to $6,000 per ounce.

And at some point, the price will catch up with reality.

If you look at the price of gold today, just around $1,200 an ounce, and if you look at back in the early 80s. it was trading around $800 an ounce. So, if you adjust for inflation, you should have gold at around $2,000 or $3,000 an ounce, and if you look at what’s gone on in the world, it should probably be at $5,000 or $6,000 an ounce.”

Duffy said he thinks the main reason gold and silver remain undervalued has to do with the fact that most people misjudge and downplay the amount of instability and economic chaos in the world. But at some point, the blinders will fall off.

I think so many of us have become jaded and whatever happens in the world is like yesterday’s newspaper in 5 minutes. So, people are dismissing some of these events to a point where one day you won’t be able to dismiss them, and you’ll see a huge move in some of these precious metals.”

Many analysts have questioned whether Pres. Trump will be able to push through the economic reforms he promised. The fact that Congress still hasn’t managed to pass any kind of healthcare bill doesn’t bode well. But Duffy said the real problem isn’t Capitol Hill. It’s the Federal Reserve. He said Janet Yellen and company have created “frustration” and “confusion” in the marketplace.

I think the market is a little frustrated with what the Fed has said over the last several years. The Fed said they wanted to see certain economic factors happen including unemployment. A lot of those factors were in the marketplace including unemployment and no inflation, and the Fed still did not move rates. That confused the market.”

Peter has also talked about the unrealistic optimism and false sense of financial security many Americans seem to feel. During a recent interview at International Metal Writers Conference, Peter Schiff said we are in the eye of an economic hurricane right now. Investors need to take advantage of the relative calm and buy gold and silver.

I think once people start figuring out, the price of gold is going to start to rise in $50 to $100 increments. But, before that happens, you just want to take advantage of his lull in the storm. We’re in the eye of an economic hurricane right now. People think that 2008 was the end of it – that was when we entered the storm. Now we’re in the eye. We’re coming to the rest of the storm shortly. So, for now, it’s just a good time to buy gold while there’s so much complacency.”

WhyBuyGoldNowBanner.070815.590

Get Peter Schiff’s latest gold market analysis – click here for a free subscription to his exclusive monthly Gold Videocast.
Interested in learning how to buy gold and buy silver?
Call 1-888-GOLD-160 and speak with a Precious Metals Specialist today!


Related Posts

Peter Schiff: The Bubble Keeps Getting Bigger (Video)

Peter Schiff recently appeared on The Street with Scott Gamm to talk about the stock market. Peter’s analysis was simple and succinct. Well, the bubble keeps getting bigger.” Related

READ MORE →

Peter Schiff: Stock Market Pushed by “Irrational Exuberance” (Video)

So what are we to make of the continuing stock market climb? Peter Schiff summed it up succinctly in a recent interview on Fox Business. Well look, I think it’s a bubble.” Related

READ MORE →

Ron Paul on the Stock Market: Delusions and the Madness of Crowds (Video)

Stock markets continue to surge higher on a seemingly endless upward trajectory. On Tuesday, the Dow Jones crossed the 23,000 mark for a time and closed just below that threshold at 22,997. It almost seems like this can go on forever, but Ron Paul said it would eventually come to an end during an interview on […]

READ MORE →

Peter Schiff: 2008 Was Just the Opening Act (Video)

On Sept. 22, Peter Schiff spoke at the Nexus Conference in Aspen, Colorado, and argued that the financial crisis in 2008 was just the opening act. The real crisis will result from the way the government and the Federal Reserve responded to the 2008 crash. I don’t think 2008 was the crisis. I think that […]

READ MORE →

“Commodities King” Says Bull Run Will Continue; Now Is the Time to Buy Gold (Video)

Last December, Dennis Gartman called gold the top commodity to own in 2017. He followed up in March, swearing he wasn’t a “gold bug,” but then advising “buy gold.” Now the man known as the “commodities king” says keep buying gold. In an interview on CNBC’s Futures Now, Gartman declared the bull run isn’t over […]

READ MORE →

Comments are closed.

Free Newsletter & Notification of Special Deals
RSS Feed
LINKEDIN
YouTube Channel
YouTube Channel
Google+
Google+
https://schiffgold.com/videos/cme-group-ceo-gold-extremely-undervalued-5000-6000-per-ounce-video
Call Now