Huge News! Japan’s LATEST BOMBSHELL Will Change Gold & Silver Prices FOREVER - Peter Schiff
Huge News! Japan’s LATEST BOMBSHELL Will Change Gold & Silver Prices FOREVER - Peter Schiff
Renowned American stockbroker Peter Schiff highlights that Japan’s recent monetary policy decisions have effectively “saved the day“ by surrendering on rate hikes. Despite this, Schiff is amazed that gold hasn’t surged, noting that this is a highly bullish environment for gold and mining stocks. He believes inflation will escalate as the economy enters a recession, officially this time. Gold prices hit a 10-day high on Monday. In 2024, gold prices have soared to record highs amid optimism about US interest-rate cuts. Geopolitical tensions have fueled safe-haven demand. Spot gold reached 2, dollars per ounce on Monday, down from mid-July’s 2024 highs but the highest since August 2.
Technically speaking, Schiff mentions mining stocks are undervalued, predicting returns that could exceed five to ten times the investment. Barrick Gold gave a strong outlook on Monday after stomping past second-quarter earnings estimates, and its stock jumped. Major gold ETFs recovered buy points as stocks wobbled and gold prices firmed up ahead of key inflation data.
Based on current trends, analysts, including Peter Schiff, believe that the Fed’s upcoming rate cuts and QE will create a prime opportunity for gold to surge despite its lackluster performance. He urges investors to prepare for a bullish market. ING projects a 50-basis-point cut in September, followed by a series of 25-basis-point decreases. By next summer, the Fed funds rate could settle around 3.5%. This dovish monetary policy approach is likely to drive investors towards gold as a hedge against lower borrowing costs and potential inflation.
During the interview, Peter Schiff underscored the interconnectedness of global financial markets, using Japan’s recent monetary policy decisions as a cautionary example for the US. He argues that years of artificially low interest rates have created unsustainable debt bubbles in Japan, the US, and Europe, making it impossible to normalize rates without triggering market instability. Ultimately, Schiff predicts that the Federal Reserve, like the Bank of Japan, will be forced to abandon rate hikes to avoid a market crash. In a statement to local leaders in Hakodate, BoJ deputy governor Shinichi Uchida said the central bank ’needs to maintain monetary easing with the current policy interest rate for the time being.’
In March, Japanese interest rates rose for the first time in 17 years, increasing from -0.1% to 0.1%. This was followed by a second increase on July 31, when the BoJ board voted to implement a 15 basis point hike, bringing rates to %.
Meanwhile, most US economists expect only a quarter-point decrease in interest rates in September. This prediction contrasts with calls from some major Wall Street banks for a more substantial cut at the next meeting. Despite mounting inflation pressures, Schiff warned that central banks will soon face a tough choice between allowing hyperinflation or sharply raising rates, both with severe consequences.
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