Spectacular Gold Rally Is Coming

"I think everything supports the fact that this is yet another buying opportunity in a string of buying opportunities," says Peter Schiff, CEO of Euro Pacific Capital, in the attached video. "In fact, I think this may be the best buying opportunity yet."So the problem is, the physical gold is disappearing and ultimately the short sellers have to be able to deliver the commodity they are shorting and they are not going to be able to do that," he predicts."I think (the speculators and shorts) won't be able to buy it back," he says. "I don't think that gold is for sale, at any price, because I think it is in strong hands and I think there's going to be a spectacular rise when these forces try to work themselves back out."

Peter Schiff is a well-known commentator appearing regularly on CNBC, TechTicker and FoxNews. He is often referred to as "Doctor Doom" because of his bearish outlook on the economy and the U.S. Dollar in particular. Peter was one of the first from within the professional investment field to call the housing market a bubble. Peter has written a book called "Crash Proof" and a follow-on called "The Little Book of Bull Moves in Bear Markets". He is the President of EuroPacific Capital, which is a brokerage specializing in finding dividend-yielding, value-based foreign stocks.