Can't Trump this Opportunity in Gold

Some have dubbed it the "Trump Bump."

Since the election of Donald Trump, the stock market has soared. Many Americans believed the new president would turn things around and "make America great again!" Meanwhile, the sale of precious metals has slumped in the US. While sales of gold and silver have soared in places like China and India, Americans have been buying up US stocks.

But is the unbridled optimism warranted? Peter Schiff doesn't think so, and believes now is the time to think like a contrarian, and buy gold and silver.

While everybody is still piling into stocks, Peter believes this is an opportune time to invest in precious metals. Trump's election made a lot of people more optimistic about America's economic future. Gold and silver bullion coin sales at the US Mint have fallen to the lowest level in years, following the general trend in US precious metal markets. But as Peter points out, fundamentally things aren't any different than they were before the election. The precious metals slump in the US doesn't really make sense. The fact that the mainstream is looking the other way is a good indication that it's time to get into gold and silver - before it's too late.

As Peter put it, nothing has changed.

Yes, having Donald Trump president is better than having Hillary Clinton as president. But he is not a get out of jail free card for the economy…The problem is the damage is going to hit on Donald Trump's watch. Barack Obama got out of Dodge just in time."

Obama and the Fed did a great deal of damage to the economy. Trump inherited a mess, and he won't be able to fix it. Will all of the chaos surrounding his administration, it seems increasingly likely he's going to have a hard time pushing his agenda through. And as Peter points out, even if he does, it's not going to be enough. Even with a new administration, the fundamentals underlying the economy haven't changed. The Federal Reserve hasn't changed. The bubbles still exist.

- Source, Seeking Alpha