Gold has again hit new all-time highs in 2024, with the precious metal’s value increasing by 5.65 percent against the US dollar over the past month and a massive 42.98 percent over the past twelve months. Silver’s performance is closely mirroring gold’s performance, with the metal currently trading near 34 dollars per ounce. Renowned gold bulls and prominent analysts are predicting even higher gold and silver prices going into 2025. In recent posts on X, prominent economist, and renowned gold bull Peter Schiff shared his thoughts on the gold rally and what comes next for the precious metal. One of the posts made on Tuesday reads:
“Gold closed at a record high above 2,775 dollars, on track for its best year since 1979. The difference is that in 1979, inflation was near its peak, and the gold bull market was near its end, whereas now inflation is near its trough. The gold bull market is just getting started.”
In another post, Schiff added:
“Rising gold prices and bond yields are not part of the Trump trade. Regardless of the election outcome, budget deficits and inflation are headed higher, which is very bearish for bonds and bullish for gold. So, even if Trump loses, gold prices and bond yields will keep rising.”
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Credit: Natural Resource Stocks
Jim Rogers: Global Financial Instability, Gold, Silver and Monetary Challenges
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