“Buy Gold Before Stampede Starts”, Peter Schiff Tweets, As XAU Records Weekly Close Above $1,800

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Sat, 07/18/2020 - 08:00
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Yuri Molchan
Vocal gold advocate Peter Schiff stated that the slow gold price growth (XAU closing above $1,800) will become a real surge soon
“Buy Gold Before Stampede Starts”, Peter Schiff Tweets, As XAU Records Weekly Close Above $1,800
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Contents

The prominent gold bug Peter Schiff tweeted that after XAU price had made an impressive weekly close, gold will become a target for massive purchases due to the global run on the USD.

Gold records weekly close above $1,800

In his recent tweet, the Euro Pacific Capital chief executive Peter Schiff shared that the gold price had printed a weekly close above the $1,800 level for the first time since the fall of 2011.

He predicts that soon this gradual growth is going to turn into a massive surge and demand for gold as investors are beginning to crave for it due to the monstrous USD injection by the Fed.

gold
Image via Twitter

‘Americans are in for a rude awakening' as USD Index keeps falling

Peter Schiff also reminded his followers about the US dollar Index that has been falling in value for a month since February 1 last year.

The economist expects that the gradual decline of the USD will soon turn into a disorderly collapse and will push the US economy and markets way down.

gold
Image via Twitter

Related CZ Binance Says Twitter Hack Was "Net Positive" for Bitcoin, Here’s Why
Related
CZ Binance Says Twitter Hack Was "Net Positive" for Bitcoin, Here’s Why

Still refusing to embrace Bitcoin

After the large-scale Twitter hack that occurred earlier this week, Peter Schiff managed to find something to rebuke Bitcoin for even here.

He tweeted that these hackers ran a ‘Bitcoin scam’ using the hijacked verified accounts and this could be a harbinger of BTC itself being hacked.

Schiff yet again praised gold vs BTC and stated that the fact that his account had not been verified at least once had its positive side.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.