Monday, September 16, 2013

Gold Price could go a lot higher than $5,000/oz before the Bull Market ends

Peter Schiff: It’s hard to put a dollar value on it, because I have no idea what a dollar will be worth, if anything. There’s no limit as to how high the price of gold can go. I think, at a minimum, you’re going to see gold prices at $5,000 before the bull market ends. But it could be a lot higher than $5,000, there’s just no way to know now.
I don’t know how many dollars are going to be created, how far the Fed is going to try to push this envelope when it comes to QE. So who knows where the price might end up. At this point, it’s really irrelevant. You don’t really need to know how high it’s going to go, you just need to know it’s going to go a lot higher and just buy it. - in IndexUniverse

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.

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