The Peter Schiff Show Podcast
Gold Breaks $2,500. Harris Would Send it to the Moon - Ep 975
Aug 17, 2024
Gold prices have soared above $2,500 per ounce, outshining the stagnant performance of Bitcoin. The podcast explores how current economic policies could fuel inflation, emphasizing the need for smart investments in gold and mining stocks. It critiques historical price controls and the role of debt forgiveness in the economy. The discussion highlights strategies for maximizing returns in gold and silver, urging listeners to act proactively against inflationary risks. Tune in for valuable insights on navigating today's financial landscape.
55:23
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Quick takeaways
- Gold prices reached a historic high of $2,508 per ounce, significantly outperforming Bitcoin's recent struggles and emphasizing gold's long-term growth potential.
- Despite gold's surge, mining stocks have lagged behind, reflecting current investor skepticism but suggesting future opportunities as market sentiment shifts.
Deep dives
Gold Reaches Historic Heights
Gold prices surged to an all-time high, closing at $2,508 an ounce, marking a significant weekly gain of 2.6%. Despite this monumental achievement, the surge went largely unnoticed by mainstream financial news sources, which predominantly discussed Bitcoin instead. While Bitcoin remains down 20% from its record high, gold has increased more than eightfold since the start of the century, showcasing its resilience and growth. The contrast between gold's rise and the Dow Jones' fourfold increase illustrates gold's strong investment performance over time.
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