Some have dubbed it the "Trump Bump."
Since the election of Donald Trump, the stock market has soared. Many Americans believed the new president would turn things around and "make America great again!" Meanwhile, the sale of precious metals has slumped in the US. While sales of gold and silver have soared in places like China and India, Americans have been buying up US stocks.
But is the unbridled optimism warranted? Peter Schiff doesn't think so, and believes now is the time to think like a contrarian, and buy gold and silver.
While everybody is still piling into stocks, Peter believes this is an opportune time to invest in precious metals.
As Peter put it, nothing has changed.
Obama and the Fed did a great deal of damage to the economy. Trump inherited a mess, and he won't be able to fix it. Will all of the chaos surrounding his administration, it seems increasingly likely he's going to have a hard time pushing his agenda through. And as Peter points out, even if he does, it's not going to be enough. Even with a new administration, the fundamentals underlying the economy haven't changed. The Federal Reserve hasn't changed. The bubbles still exist.
- Source, Seeking Alpha