Wednesday, January 1, 2014

Its Not Too Late For Buying Gold

"It's not too late for buying gold. I still haven't seen anything in the gold market that is reminiscent of any kind of mania or bubble. The average American is still way underinvested in gold: probably 99 out of a hundred Americans don't own any gold at all other than their jewelry and most people who have jewelry are selling it for cash-for-gold programs. We have a ways to go. Even all the way up to 2,000 USD an ounce you're going to see a lot of retail buying. Once it clearly crosses the 2,000 USD level we'll start to draw in a wider segment of Americans. By the time it reaches 5,000 USD, and it won't be that long, it will be a lot more common for people to own gold." in

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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