Trump's disruptive trade policies have driven gold prices higher, and investment banks have raised their target prices. Gold bull Peter Schiff is live streaming on X with the title "Gold futures reach $3,000, spot gold follows, sell Bitcoin above $80,000" and is advising investors to buy precious metal mining stocks.
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Trump's disruptive trade policies have driven gold prices higher. Spot gold is currently trading at $2,986 per ounce and is expected to rise 2.7% this week. Silver prices have remained stable after rising more than 5% in the first three trading days.
Investment institutions have raised their gold price targets. Macquarie Group forecasts that gold prices will soar to $3,500 per ounce in the second quarter, while Goldman Sachs raised its year-end gold price target to $3,100 per ounce last month, and Citigroup said in early February that it expects gold prices to reach $3,000 per ounce within three months.
Gold bull Peter Schiff: Sell Bitcoin, buy gold
Gold bull Peter Schiff is live streaming on X with the title "Gold futures reach $3,000, spot gold follows, sell Bitcoin above $80,000".
Schiff stated that while the stock market and Bitcoin have fallen again today, gold has risen $40 and reached a new all-time high. Gold is now just $25 away from $3,000. Why is the US government wasting time researching how to increase Bitcoin reserves instead of directly increasing its existing gold reserves?
He also believes that central banks buying gold is like insiders selling stocks. When a company's closest investors sell their shares, retail investors usually follow suit. And when those closest to the legal system express a loss of confidence by selling dollars, if you don't follow suit, you're just too stupid.
Suggest buying precious metal mining stocks
Peter Schiff said that the current silver price is still below $34. He suggests that investors considering investing in precious metals should buy silver, and preferably buy gold and silver mining stocks. Silver mining stocks are still trading below pre-Trump election levels and can be bought through the EPGIX fund.
EPGIX is a fund focused on investing in precious metal mining companies, managed by Euro Pacific Asset Management. Its investment strategy is mainly focused on companies with a focus on royalty businesses and the ability to create long-term value, rather than just relying on large producers in the industry. According to Morningstar, it has $250 million in total assets under management and a year-to-date return of 18.58%.
Risk Warning
Cryptocurrency investments are highly risky, and their prices may fluctuate wildly. You may lose your entire principal. Please carefully evaluate the risks.
