{"id":132956,"date":"2024-07-12T10:00:19","date_gmt":"2024-07-12T07:00:19","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=132956"},"modified":"2024-07-11T18:52:59","modified_gmt":"2024-07-11T15:52:59","slug":"popular-economist-and-crypto-critic-predicts-gold-surge-remains-skeptical-of-bitcoin","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/popular-economist-and-crypto-critic-predicts-gold-surge-remains-skeptical-of-bitcoin\/","title":{"rendered":"Popular Economist and Crypto Critic Predicts Gold Surge, Remains Skeptical of Bitcoin"},"content":{"rendered":"

His statements follow the release<\/a><\/strong> of U.S. Consumer Price Index (CPI) data showing a slowdown, prompting speculation about potential Federal Reserve rate cuts in 2024.<\/p>\n

Schiff emphasized<\/a><\/strong> gold\u2019s robust response to the CPI figures, noting<\/a><\/strong> a price surge of over $30 to trade above $2,400. He criticized the Fed\u2019s possible interest rate cuts as a measure to mask underlying inflation concerns, foreseeing higher inflation ahead.<\/p>\n

Regarding Bitcoin<\/a><\/strong>, Schiff expressed skepticism despite recent price gains, suggesting it won\u2019t sustain its current levels. He highlighted<\/a><\/strong> the outperformance of gold stocks, such as the VanEck Vectors Gold Miners ETF (GDX) and VanEck Vectors Junior Gold Miners ETF (GDXJ), both reaching new highs and indicating a strong bullish trend for gold.<\/p>