The Gold IRA Company

Peter Schiff: Gold Going up to $1,800 to $1,900 an Ounce

Article by JT Crowe in Money & Markets

With the economy slowing and the Federal Reserve ready to backpedal into the first interest rate cut since the 2008 financial crisis, gold is again, finally, on the rise.

Economist and gold expert Peter Schiff said in an interview this week that this is the beginning of a gold boom, and this won’t be the final Fed founds rate cut.

“In fact, they are going to cut rates and this is going to be the first step on the road back to zero. And the Fed is also going to return to quantitative easing,” Schiff said. “But we just found out that Donald Trump is cutting a deal with a Democrats to basically throw out any progress Republicans made back in 2011, thank to efforts of the Tea Party, to at least try to rein in the increase in government spending. So, they’re throwing caution to the wind. We are going to see deficits going through the roof over the next several years, and that’s even without the recession, which I believe is coming and which is going to make them much, much worse.”

And along with more money printing (quantitative easing, or QE), will come inflation, which will push gold higher, Schiff said.

“All of this is very bullish for gold,” he said. “If you understood what all of this means, you would be buying gold as fast as you can.”

To read this article in Money & Markets in its entirety, click here.

 

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