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Peter Schiff Calls $4,145 Gold a Bargain Amid US Inflation Rise
Economist Peter Schiff said gold priced at $4,145 per ounce represents a rare buying opportunity. He made the comment as US consumer price inflation rose to 3.7%, higher than expected. Schiff argued that the persistent inflation indicates the Federal Reserve has already lost its fight against rising prices. The gold price had fallen amid hotter-than-expected inflation data and expectations of further Fed rate hikes.