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Peter Schiff recently appeared on Fox Business Claman Countdown along with Stephen Guilfoyle and Luke Rahbari to talk about gold, bonds and coronavirus.
Stocks have sold off two straight days as investors pile into safe-havens due to coronavirus fears. Yields on both 10-year and 30-year Treasuries fell to record lows this week. Gold has also gotten a healthy boost over the last few days.
The yellow metal pushed to $1,690 per ounce on Monday, but gave up some of its gains on Tuesday in the midst of profit-taking.
Liz Claman introduced Peter as the “gold bug” and called him the “man of the hour.” Peter said this is “the most unloved bull market he’s ever seen.”
“We’ve been climbing this wall of worry, so I think too many people look to take profits. They really have no idea how high the price of gold is going to go. And it’s not the coronavirus that’s driving it. It’s Fed monetary policy. And especially the additional easing that I think the markets are correctly starting to price in that is going to result from the coronavirus.”
Watch the video:
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