Veteran investor Peter Grandich is warning that the market is overlooking the biggest signals in decades, with precious metals and insider selling flashing red. In an interview with Kitco News, Grandich didn’t hold back the criticism of the U.S. economic policy, the Federal Reserve, and the complacency of equity markets.
“We’re going to see a major revision that could wipe away well over a million jobs that were supposedly created over the last 18 months,” he said, talking about the labor data that previously supported the “soft landing” narrative. He pointed directly to the Bureau of Labor Statistics’ birth-death model, calling it “BS,” and said investors should brace for a painful revision.
Precious metals, in his view, are telling the real story. Gold has surged toward $3,600 an ounce, and Grandich argued that Wall Street’s refusal to pay attention is blinding investors to what’s coming.
“Gold has been a tremendous barometer that Wall Street doesn’t tend to look at because it’s kryptonite to them,” he said. “It’s clearly signaling that the U.S. and some other areas in the world have some very difficult problems ahead.”
Silver, …