There are many triggers in place that spells out a very promising prospect for gold. 10-year Treasury yields have flirted with 3% this week, hitting a 4-year high of 2.95. Does the Treasury yield hold the leash of the stock market?
Peter Schiff talked about it in an interview with Liz Claman on Fox Business, saying the Fed has kept rates artificially low for years, but given current conditions, it’s inevitable that the market will lift rates toward “normal.”
The result? Gold is about to “go ballistic.”
- 10-year treasury yields flirted with 3%
- Treasury may hold the leash of the stock market
- Gold is prepped to have a startling jump in coming months
It’s not just the 10-year. Go all the way out to the 30-year. Rates are going a lot higher. You have to remember, the way the Federal Reserve was able to prop up the market and prop up this economy was by keeping interest rates artificially low. And they’ve succeeded in doing that for a long time. But now, the markets are going to raise interest rates back up to where they should be – and they should be a lot higher – because we have record debt, record budget deficits coming, record trade deficits, a 10-year low in our savings rate. We have to borrow tremendous amounts of money and the world is not going to lend it to us at these ridiculously low interest rates. They are going to normalize quickly.
Original Source: https://schiffgold.com/interviews/peter-schiff-gold-going-go-ballistic-video/