{"id":417786,"date":"2020-03-11T20:00:32","date_gmt":"2020-03-11T20:00:32","guid":{"rendered":"https:\/\/uniquehot.com\/?p=417786"},"modified":"2024-06-11T13:43:14","modified_gmt":"2024-06-11T13:43:14","slug":"could-bullish-factors-for-bitcoin-drive-gold-prices-past-5000","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/could-bullish-factors-for-bitcoin-drive-gold-prices-past-5000\/","title":{"rendered":"Could Bullish Factors for Bitcoin Drive Gold Prices Past $5,000?"},"content":{"rendered":"

A myriad of global factors seem to be converging that are making safe haven<\/a> assets increasingly attractive. One of Bitcoin’s most prominent naysayers believes efforts to stimulate economies in the face of growing uncertainty will play in the favour of gold.<\/p>\n

Peter Schiff<\/a>, the CEO of Euro Pacific Capital, says that gold will soon hit $5,000 per ounce. This would represent a more than 3x gain from its current price point.<\/p>\n

Schiff: Fed Policy will Drive Gold to $5,000<\/h2>\n
The prolific anti-Bitcoiner and gold bug Peter Schiff believes the current global macro economic climate will drive greater numbers of investors than ever before to consider gold. Schiff claims that Federal Reserve<\/a> policy will make the precious metal increasingly attractive in the future.<\/p>\n
In a post to Twitter<\/a> earlier today, Schiff made the case that investors started to lose interest in gold in 2011. Federal Reserve promises to “normalize interest rates and shrink its balance sheet” apparently were convincing enough to reduce demand for the safe haven asset.<\/p>\n
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The reason #gold<\/a> stopped rising in 2011 is that everyone believed the Fed when it said it could normalize interest rates and shrink its balance sheet. This time no one will believe that lie, even if the Fed is bold enough to tell it again. My 5K gold call will soon be a reality.<\/p>\n
— Peter Schiff (@PeterSchiff) March 11, 2020<\/a><\/p><\/blockquote>\n