$1,500 Gold, $22 Silver & A Wakeup Call For The World
$1,500 Gold, $22 Silver & A Wakeup Call For The World from King World News
As we kickoff what promises to be a wild week of trading, today a former associate of George Soros just warned King World News that this is why the gold and silver markets are on fire today.
Victor Sperandeo manages over $3 billion, has been in the business 45 years, and has worked with famous individuals such as Leon Cooperman and George Soros. Below is what Sperandeo had to say.
August 28 (King World News) – Victor Sperandeo: “The reason the gold and silver markets are on fire today is because China’s stock market hit a new (roughly one-year) high today, and China is the big buyers of metals. So If you look at the action today, platinum is up $9, palladium is up as well, all the metals are all up…
“The miners have led the way and the pattern is exactly the same as it was in early 2016 when gold, silver and the mining shares soared. Silver and gold have been lagging recently and they are now going to play catchup. But the Shanghai stock market hitting a fresh (roughly one-year) high is the reason why the gold and silver markets are on fire today.
US Dollar Warning & Why I’m About To Short Stocks
Also of importance is the fact that the US dollar is now signaling that the rate hikes are over. Meaning, the US economy is in trouble and there will be no more rate hikes. So the weakening of the dollar is exposing the fact that the US economy is deteriorating. That’s why I am looking to short the US stock market. When the downturn comes, it will be brutal.