- July 9, 2021
- Posted by: Stratford Team
- Category: Business
Sprott Asset Management senior managing director Ed Coyne discusses why the Fed is entertaining tapering asset purchasing.
Gold investors are taking the wheel, setting the precious metal up for a major rally as investors realize the Federal Reserve is powerless against rising and persistent inflation, according to one strategist.
The precious metal on Thursday was flirting with a sixth straight day of gains, hovering near $1,800 an ounce. It has rallied 8.5% since touching a nine-month low of $1,677.70 an ounce on March 8.
“Markets are basically preparing for the wrong outcome,” said Peter Schiff, CEO and president of Westport, Connecticut-based Euro Pacific Capital.
Schiff says markets are finally starting to come to the conclusion that “inflation is not transitory,” and is a problem the Federal Reserve will try to solve with rate hikes and tapering.
FORGET INFLATION – DEFLATION COULD REAR ITS UGLY HEAD SOON
Investors have begun pricing in…
