The Peter Schiff Show Podcast
Gold Soars as The Fed Readies Rate Cuts - Ep 979
Sep 14, 2024
Peter Schiff, a renowned financial commentator and economist, dives into the soaring gold prices hitting all-time highs while contrasting it with a strong stock market. He also discusses expected Federal Reserve rate cuts and their implications for the economy. Alongside these insights, Peter announces his wife Lauren Schiff's new music duo, The Laughing Cats, and their humorous debut album 'Funny Money.' Gains in gold lead the conversation as investment strategies are outlined, illustrating a proactive approach during uncertain economic times.
01:00:19
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Quick takeaways
- Gold has surged to new all-time highs, emphasizing its role as a robust hedge against inflation and economic instability.
- The anticipated Federal Reserve rate cuts could inadvertently heighten inflation, impacting both gold prices and market stability significantly.
Deep dives
Gold's New Record Highs
Gold has recently reached new all-time highs, notably closing at $2,578 for the week, marking a 25% increase for the year. This surge contrasts sharply with the stock market's performance, where major indexes have shown less impressive gains when measured in gold. For instance, while the S&P 500 saw a weekly rise of 3.1%, this translated to a decline in its value relative to gold for the year. Investors are increasingly recognizing gold's robustness as a hedge against inflation and economic instability.
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