Contact us
CALL US NOW 1-888-GOLD-160

Peter Schiff: Gold Will Go Much Higher Than $5,000 (Video)

  by    0   0

In a podcast last week, Peter Schiff said we have all the elements of a gold bull market. This week, he appeared on Kitco News and talked with Daniela Carbone about what’s going on with gold. Peter said he thinks we’re at the beginning of a breakout from the consolidation we’ve seen in the market since it peaked at $1,900 back in 2011. He also said he thinks gold will push well-above $5,000.

As he has been doing for months, Peter honed in on Federal Reserve monetary policy as the big driver.

First of all, I do think the Fed cutting rates is part of the reason that gold is going to be rallying. It is the monetary policies and the mistakes that are being made, not just by the Federal Reserve, but by central banks all around the world, that is driving the narrative for gold, because gold is an alternative to all of these money-substitutes that are being created by governments. And the problem is they’re creating too many. They’re creating a lot of inflation. They’re trying to sustain asset bubbles. They’re trying to make it possible for governments to keep on spending money they don’t have, and to do that, they need to artificially suppress interest rates. That destroys the value of these fiat currencies and that’s what drives people to seek out better alternatives like gold.

Peter said we’re seeing some signs that the mainstream is starting to turn to gold, but investors are still too complacent.

They have too much confidence in central banks. They don’t perceive the predicament that we are now in, particularly the United States, and they have no idea just how much value the dollar and other fiat currencies will lose in terms of purchasing power, and how much inflation central banks are going to unleash. If they did, they would be buying a lot more gold and the price would be much higher than where it is now.”

Carbone asked Peter if he thought this could be the beginning of the move that takes gold to $5,000. Peter said he thinks that move started a long time ago, reminding her the yellow metal started under $300 per ounce back in 2001. It peaked at $1,900 back in 2011 and then gave up some of those gains. But it has never dipped below $1,000 since. Peter said investors who are waiting for that to happen will never buy because gold isn’t going to dip that far.

Peter said he thinks this is the breakout of the consolidation that we’ve been in for the last several years.

Ultimately, I think gold is going to go quite a bit higher than $5,000. It’s hard to tell how much higher, but it will go much higher.”

Carbone also asked about silver. Peter said silver has been extremely undervalued compared to gold, but we may have seen the beginning of the white metal’s move to close that gap.

I think we may have seen the lows in silver in terms of gold. And I think that’s very good, not only if you own silver, but if you own gold. Because I do think that in a gold bull market, a real gold bull market, we would expect to see silver outperforming, and in fact, we would also expect to see gold stocks outperforming and that seems to be happening now too.”


Get Peter Schiff’s key gold headlines in your inbox every week – click here – for a free subscription to his exclusive weekly email updates.
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 Next Crash Could Bring Down the Fiat Money System

Peter Schiff appeared on RT Boom Bust on Tuesday (Sept. 17) to talk about interest rates, gold and the dollar. Peter said the fiat currency system may not survive the next recession. The conversation started focusing on the repo operations conducted by the Federal Reserve early in the week, Peter said the financial media and […]


Peter Schiff: The Only Winners Will Be the People Who Bought Gold and Silver

Gold has been on a three-day skid, but as Fox Business anchor Liz Claman put it, “So what? It’s been a breakout summer for bullion.” Over the last three months, gold is up about 12% and has hit six-and-a-half year highs in recent weeks. Peter Schiff joined Claman, along with, Frank Holmes and Imaru Cassanova […]


Peter Schiff: We’ve Accelerated the Process of the Dollar’s Demise

Is the US losing its grip on the world? And could the dollar ultimately be dethroned from its spot as the world’s reserve currency? We’ve reported extensively on countries working to undermine dollar hegemony and reduce the United States’ ability to weaponize the dollar as a foreign policy tool, along with the global gold rush on […]


Peter Schiff: Trade Deals Won’t Fix the Economy

One day Trump is on Twitter ratcheting up the trade war with China and the next he is pulling back and saying a deal is close. This back-and-forth has been yo-yoing markets for months. Peter Schiff recently appeared on RT Boom Bust to talk about the trade war. He said he doesn’t think there’s much […]


Peter Schiff: Gold Is Not Going to Stop This Time

Gold has continued to push upward. The latest catalyst was another escalation of the trade war. Gold briefly moved above $1,550 in dollar terms. But it has done even better in relation to other currencies. In fact, the yellow metal is at record highs in nearly every currency except the dollar. Peter Schiff appeared on […]


Comments are closed.

Call Now