Get Out of Jail Free Card

If you’ve been waiting to buy gold and silver the wait is over.

In his most recent Gold Videocast, Peter Schiff looks at how the price of silver has just surged to a high it hasn’t seen since January of last year. In the aftermath of Brexit, Peter takes this as a good sign that the prices of both gold and silver are about to really break out and begin moving up in significant bursts. Now that gold is holding steady above $1,300 an ounce, investors who have been waiting on the sidelines to buy should consider acting soon – before sellers start hoarding their metals as the prices move up.

Peter’s forecast is based less on the United Kingdom leaving the European Union, and more on what is going to happen in America. Peter reiterated what he said in his recent appearance on CNBC’s Trading Nations: the Brexit basically gave Janet Yellen a get out of jail free card:

only here but around the world, and all the naysayers, all the people who have been saying that, oh, the guys like Peter Schiff are wrong, the Fed was right, Bernanke was right, he was the hero, Paul Krugman was right, there is no inflation, all the people that had these premature victory laps are gonna have a lot of egg on their face.

But in the meantime, there isn’t a lot of time left for people to buy gold and silver while there are still people foolish enough to sell it. Because I think the supply of sellers is gonna rapidly run dry as more and more people come to the obvious conclusion they should have come to years ago but they didn’t. But all of a sudden, people are gonna have that a-ha moment, they’re gonna have that epiphany, and it’s gonna be a race. But before that happens, if you haven’t fully allocated your gold and silver positions, I would encourage you to do so now. And if you haven’t bought any, if you’ve been waiting, you know, the wait is over. And I wouldn’t be waiting for lower prices because I doubt we’re gonna see them. The prices are low enough. Just buy them. Maybe they’re higher than they were. Don’t think, “Oh, I missed out because we’ve had this big run in the last few months.” Prices are still very cheap not only relative to where they’ve been in the past, but they’re very cheap relative to where I think they’re gonna be in the future.

“If you’ve been waiting, the wait is over. And I wouldn’t be waiting for lower prices because I doubt we’re going to see them. The prices are low enough. Just buy them.”

Reprinted from SchiffGold.com.

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