Tags: Peter Schiff | Gold | Inflation | Higher

Strategist Peter Schiff: Gold, Inflation 'Going Much, Much Higher'

 (AP/Bob Bennett)

By    |   Monday, 20 February 2017 08:15 PM

Peter Schiff, CEO of Euro Pacific Capital, warns that gold will follow inflation to much higher levels.

“Gold is going up faster than the stock market,” he recently told CNBC. “Gold is up about 8 percent this year – it had a good year last year. Remember, gold started this bull market,” he said.

But he cautioned that gold could dip every so often.

“Nothing goes up in a straight line. All bull markets have corrections. Gold is no exception,” he said.

“But gold is going much, much higher. I've been predicting higher gold prices since the late 1990s. And gold has outperformed stocks during that period of time and it's going a lot higher,” he said.

“Inflation is going a lot a higher as well. And so more people are going to go into gold.”

 For his part, Frank Holmes, CEO and chief investment officer at U.S. Global Investors, says investors are buying gold by relying on simple investment-related math, USA Today reported

Holding gold – which does not pay interest – has become more attractive due to the combination of lower bond yields and higher inflation readings, Holmes told USA Today.

However, not all economic gurus are in agreement about how buying gold fits into the brave new world of a Trump presidency.

"We’ve seen some market strategists recommend owning gold in the event that Trump causes World War III. Unlike potassium iodide, gold isn’t an antidote to radiation exposure," Newsmax Finance Insider Ed Yardeni recently explained.

"But it might provide great protection from a number of lesser calamities that Trump’s detractors believe he might cause, including a global trade war or a domestic civil war," Yardeni wrote.

"Our new president has hit the ground running, but there’s probably more mud than he expected," Yardeni wrote.

"Gold might rally if he stumbles badly. Or else it might rally because Trump’s policies boost economic growth, as he promised. If so, the rebound in commodity prices that started at the end of 2015 may continue."

To be sure, Trump will be a demanding leader who applies the best of his negotiating skills to push for U.S. growth, bestselling author David Horowitz told TheStreet.com.

Trump won’t be an ideological purist like Republicans who support free trade but don't fight for fair trade, Horowitz said. “If you just say, ‘well we're for free trade and we're not going to look at the deals that we make’ -- that's not a good idea,” he said. “We've had an anti-business president now for eight years who doesn't take a hard-nosed attitude towards these deals. Trump is going to get better deals for us, which is still free trade.”

Horowitz's new book "The Big Agenda: President Trump's Plan to Save America"  reveals Trump's "first 100 days strategy" to roll back Obama's legislative and executive record.

"Big Agenda: President Trump's Plan to Save America" is available at bookstores everywhere – or get your copy on Amazon – Click Here Now

(Newsmax wire services contributed to this report).

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Peter Schiff, CEO of Euro Pacific Capital, warns that gold will follow inflation to much higher levels.
Peter Schiff, Gold, Inflation, Higher
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2017-15-20
Monday, 20 February 2017 08:15 PM
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