Kathmandu. Renowned economic expert Peter Schiff has advised investors to invest in gold. Schiff, also known as “Doctor Doom”, advised investors to avoid investing in silver right now.
Schiff came to prominence for predicting the 2008 financial crisis. “The silver market is extremely risky right now,” Schiff said in a post posted on X platform. The short-term risk is very high when buying physical silver right now. However, I am not selling my silver. It’s wise to wait until it’s settled before buying. ’
Schiff’s outlook on gold is very positive. “Buy gold now,” he said. It’s very cheap. Gold is currently facing a lower risk of decline than silver. ’
Further clarifying his views, Schiff explained that silver has declined significantly from recent highs. “As I write this post, silver is down more than $3 right now. If it continues to decrease, it will be safe to buy. My guess is that support support will be between $70 and $75. ’
Schiff, Europe’s chief economist and global strategist, also shed light on the volatility of silver. “It was a very volatile night in the silver market. After setting a new record high below $84. Silver fell sharply and settled above $75. It has since revived and is now trading above $80. This historic bull market still has a long way to go. ’
In the international market, precious metals saw a fall on Monday. Demand for safe havens fell as investors booked profits and geopolitical tensions eased.
