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$2,000 gold price by election night is possible

Kitco News

(Kitco News) - Political changes from the U.S. presidential election in November could see gold prices soar, this according to Peter Schiff, CEO of Euro Pacific Capital.

“I think if Trump is not re-elected, if we get like, President Sanders, gold should go above $2,000 this year, and if it’s not above $2,000 by election, it should be $2,000 election night once we get the results,” Schiff told Kitco News on the sidelines of the Vancouver Resource Investment Conference.

The Phase One deal signed with China earlier in the year has no real long-term impact on the economy, Schiff said.

“I don’t think there’s going to be a Phase Two, this is pretty much it. The government isn’t even really getting rid of the tariffs, the tariffs are still here. So there’s still a problem. This is not a game changer for the U.S. economy at all,” he noted.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.